Tag Archives: beats by Dre
The lesson here: Sometimes it’s best to just forget about Dre.
But back in 2009, that wasn’t an easy task for fellow hip-hop artist 50 Cent, who watched as Dr. Dre raked it in with his Beats by Dre headphones. By the following year, 50 Cent thought, “I can do that,” a decision that has since cost him millions of dollars.
50 Cent Opens Up On Founding SMS Audio, Beats, Headphone Market & More With CNBC
50 Cent's SMS Audio headphone company is one of the leaders in the growing premium headphone industry. The G-Unit mogul sit down with CNBC to talk about founding of SMS Audio headphones, Beats, headphone market and more.
Celebrity clothing lines, one of the first areas in which musicians branched out into retail, came with a sense of friendly competition. 50 said that he made the mistake of thinking that it might be the same with headphones, but he learned competition is much more aggressive in the headphone space.
"When Russell Simmons went into Phat Farm clothing, you saw Rocawear from Jay-Z, you saw Sean John from Puffy, you saw G-Unit from myself, and then numerous other companies," he said. "It showed us that you could successfully utilize the influence generated from music to market things other than music."
50 Cent had deal with Sleek Audio Co. for distribution their headphones. The G-Unit helmsman who invested $1 million in Sleek, was to start a line of headpones with the company. But 50 Cent founded his headphone SMS Audio co. and his new product want against 'beats by Dre' and also 'Sleek'. Sleek claimed 50 stole its design,some of their valuable data and trade secrets. and then tried marketing it on his own. Sleek50 Cent was ordered to pay $17 million to Sleek. but after 50 chose not to pay a $17 million, his bank account was frozen.
50 Cent also lost $5 million lawsuite against Rick Ross baby mama.
According to reports, 50 claims his assets are worth between $10-50 million, but his liabilities are about the same.