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HTC and Beats Audio’s Streaming Music Service Edges Closer to Reality

We’ve heard many a whisper before about HTC plotting to launch a Spotify-like music streaming service on its smartphones, and now it seems such a service is edging closer to reality.

This week rumours have been rife that Beats Audio, now a division of HTC, has acquired a company called MOG. MOG provide an online music streaming service akin to the likes of Spotify and Rdio – exactly what both HTC and Beats could be looking for to fuel a new service for its smartphone users.

Several sources close to the company have now confirmed that the purchase of MOG is currently in discussion, including Reuters, who say that “the company has been in discussion with Beats for weeks and the deal could be announced within the next fortnight”.

You may not have heard of MOG before, but it currently has over 500,000 active users and around $33 million from recent investments. If Beats is to purchase the company, the asking price would be a way above the investment figure, Reuters says.

Thanks to last year’s acquisition of Beats Audio, HTC now has a host of smartphones on the market that carry the audio expert’s signature logo, such as the Sensation XE and XL, and the new One series which launches next month in the UK. These smartphones have Beats Audio software to allow the user to tweak the EQ and various audio settings to their taste.

A music streaming service such as MOG’s could be rebranded by HTC and Beats and pre-loaded on new smartphones. Customers could well be provided with free and unlimited access to the service, or HTC could offer a subscription option for heavy users.

The acquisition would obviously benefit MOG massively, especially if the software is preloaded on new HTC smartphones. With millions of HTC phones sold worldwide, the company could see an exponential growth in its user base, the prospect of which is sure to make a buyout very attractive indeed.

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Via: Reuters