Beats By Dre Becomes NBA’s Headphone, Home Speaker And Audio Partner
Beats by Dre has signed a deal with the National Basketball Association to become the league’s headphone, home speaker and audio partner. The agreement includes rights granted to Beats by Dre in connection with the WNBA, NBA G League and USA Basketball, as well.
The length of the deal, which begins in October, is for multiple years and will expand upon Beats by Dre’s existing business relationships with NBA players LeBron James, Draymond Green, James Harden, Ben Simmons, Jayson Tatum and Karl-Anthony Towns. James has a small stake in the company, which was valued at $30 million when Apple purchased Beats by Dre in 2014.
Beats by Dre President Luke Wood says the NBA partnership is a perfect alignment for his company and that it “feels like coming home.”
There is an expectation that Beats by Dre will expand upon its existing relationships with the aforesaid athletes as well as its new union with the NBA by way of entering into NBA team deals in the near future.
Additionally, Beats by Dre has plans to launch a new line of audio products that are branded with NBA team logos. This would be similar to what Beats by Dre has produced in conjunction with several Major League Baseball teams, including the Boston Red Sox, Los Angeles Dodgers and New York Yankees in the past.
Product will be provided to NBA players as part of the new contractual arrangement with the league. Beats by Dre will also be busy activating on the deal surrounding NBA All-Star, the NBA Draft and international NBA games in China and Europe.