Apple Pays $3bn for Music Personalization Site

Following weeks of speculation, Apple has paid $3 billion to acquire audio specialist Beats Electronics, and its subscription-based online music streaming service Beats Music, which combines algorithm-based personalization with expert music suggestions.

Beats Music's targeting methodology is based on the analysis of user listening habits combined with feedback from 'music curators' such as music industry execs, radio personalities and songwriters. Users can download songs from the library of 20 million tracks, and through a feature called 'The Sentence' can generate playlists by filling four blanks in a sentence with words describing various activities, moods and genres.

Beats co-founders, hip hop artist and producer Dr. Dre and Jimmy Iovine, the former Chairman of record label IGA, will join Apple. Commenting on the acquisition, Iovine said: 'The idea when we started the company was inspired by Apple's unmatched ability to marry culture and technology. Apple's deep commitment to music fans, artists, songwriters and the music industry is something special.'

Earlier this, week Twitter and music industry web site Billboard launched real-time charts, to define how fans interact with, and influence popular content by ranking the most popular songs being shared on Twitter in the US.

Web site: www.beatsmusic.com .