Last week, rapper Dr.Dre claimed the title of top earner on Forbes‘ annual list of hip hop moguls, bringing in $110 million in pre-tax earnings.But the rapper didn’t bring home the big bucks thanks to a booming music career; instead, his haul is thanks to eponymous headphone brand Beats By Dr. Dre—which the music mogul co-founded with Interscope Records chief, Jimmy Iovine.
Beats, which retail for around $300, currently have 30 per cent of the premium headphone market and according to Forbes, “Dr. Dre collected $100 million pretax when handset maker HTC paid $300 million for a 51 per cent stake in the company last year.”
And now, entertainment entrepreneur Simon Cowell wants a piece of the lucrative business.
Cowell has teamed up with Sony to create headphones called the “X Headphones,” which will be heavily promoted on the upcoming second season of his Fox show, “X Factor.”
The headphones will retail for $299, the same price as most Beats styles, and will be available for purchase later this month.
Cowell released a statement explaining why he wanted to get into the ‘biz … and what makes his headphones different from Dr. Dre’s:
I chose to make a set of headphones with Sony because I simply wanted something better than what is in the market today … I’ve tried all of them, literally every single one. Sony and I set out to create the best headphone in the world. We are absolutely blown away by these. With the X headphones, it’s like being in the recording studio when the records are made. The sound is that clear.
Check out the headphones below:
Photo: CBS Interactive
Now here’s a photo of the similar-looking Beats by Dr. Dre:
Photo: Beats by Dr.Dre
Same price point. Similar styles. Which do you prefer?
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