Swizz Beatz Purchases Co-Ownership Stake in Monster Cable Products
Swizz Beatz is adding to his ever-expanding empire, purchasing a co-owenrship stake in Monster Cable Products -- the company behind Beats by Dr. Dre -- and taking his place on the executive board.
Company founder Noel Lee (billed as “Head Monster”) sought out Swizz’s expertise in creating a new cultural movement in consumer electronics. “The products that we have planned are revolutionary in technology, sound and style,” said Lee. “We need the talents and reach of Swizz to help bring these products to life in the eyes of the consumer.”
According to Wednesday’s announcement, Swizz will play off his recent work with the Reebok brand by expanding Monster with partnerships across the globe and playing an integral role in designing the company’s strategy and planning.
“Monster has always been a go-to name for music electronics as well as a big part of music culture,” said Swizz. “Under the leadership of Noel Lee, who is a true genius, the company has literally been changing the way people listen to music for over 30 years. They built an empire, and my job will be to push the envelope – turn the lights of the castle up really bright and help Monster take its next big step forward. There will be some very exciting things happening in the year ahead, so stay tuned!”
In late 2008, Beats by Dr. Dre debuted their first line of premium headphones with sound engineered by Monster. Last January, the partnership was terminated.
The company continues to manufacture advanced connectivity solutions for high-performance home entertainment, audio, home cinema, computer and gaming and continues to innovate in the field of mobile accessories and professional audio. Monster currently holds more than 300 U.S. and international patents and offers more than 4,000 products around the world.
Also announced on Wednesday, Swizz will host Monster’s Grammy after-party at the House of Hype on Sunday evening at the SLS Hotel in Beverly Hills.
Email: Sophie.Schillaci@THR.com; Twitter: @SophieSchillaci