We've been hearing increasingly more reports that HTC was looking to acquire their own music streaming service to complete the package with Beats Audio, and to compete with others such as Spotify. After we reported that HTC was looking to buy MOG yesterday, sources are now confirming the deal has been concluded and Beats Audio has purchased MOG and their music streaming service.
According to multiple sources close to the deal, including Reuters, the deal has been finalized but not completely closed quite yet. With HTC buying up Beats Audio, and now acquiring MOG's service they'll have another unique set of software and services to offer the Android world. This will be one more thing to differentiate HTC from the ever growing pack of Android manufacturers.
MOG CEO David Hyman has been cited claiming the service has over 500,000 paying subscribers and that they weren't looking to sell. MOG has came pre-installed on many HTC smartphones as of late so this makes perfect sense. Add this into their portfolio of Beats Audio, HTC Watch video-streaming, and more they have a pretty great overall package to offer customers.
We are hearing HTC and Beats’ main focus is on the streaming aspects of MOG, and their dealings with record labels over the past year. With Dr. Dre and Jimmy Lovine behind Beats Audio we thought they'd acquire something like this on their own. Instead it appears this buyout will save them some time as they look to bring this service to the market as soon as possible. No details on the transaction, or possible future subscription prices for HTC owners have been rumored, but we'll be sure to keep our ears open.