Beats Audio Headphones
Beats Electronics, LLC is a producer of audio products and equipment headquartered in Santa Monica, California. The company was founded by hip-hop artist Andre "Dr. Dre" Young and Interscope-Geffen-A&M Records chairman Jimmy Iovine, and primarily produces products under the brand Beats by Dr. Dre. Its products have been primarily manufactured and developed in collaboration with consumer electronics company Monster Cable. The collaboration has led to financial success for both companies—Beats headphones accounted for 9% of the monetary value of the headphones market[where?] in the year 2010, and has also led to competition from other headphone brands seeking to emulate the success of Beats by introducing lines with similar celebrity endorsements. Dr. Dre, Jimmy Iovine, Universal Music Group and HTC Corporation all own shares in Beats.