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CNET Update: Apple may buy Beats to challenge Spotify
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CNET Update: Apple may buy Beats to challenge Spotify

2:55 /

A video seems to confirm reports that Apple is in talks to buy Beats Electronics for $3.2 billion, but the deal would go beyond headphones. Also, Netflix raises prices and a new app pokes fun at the evils of greed.

Apple didn't forget about Dre. I'm Bridget Carey and this is your Cnet update. [MUSIC]. The next episode for Dr. Dre, in Beats Audio, could be Apple. A video posted to Facebook seems to confirm reports that Apple is buying Beats Electronics. For $3.2 billion. The video was posted by the R and B artist and actor Tyrese Gibson, and it he's having fun with rapper Dr Dre, the co-founder of Beats. And he says Forbes needs to update their billionaire's list. Then, the good doctor from Compton points to the camera and says that he's the first billionaire in hip-hop. The video was soon removed. From Tyrese's public Facebook page. Now, if this turns out to be true, the whole deal is really interesting for a number of reasons. It's not typical for Apple to buy a hardware company. And when it comes to quality sound, Beats is not the best headphone out there, but Beats goes beyond headphones. It's a massively popular brand and Beats also has a new streaming service called Beats Music. Apple may want to just absorb Beats technology. And build on that streaming service. And don't forget about one of the brains behind Beats, co-founder Jimmy Iovine. He's a good man to have on your team if you wanna strengthen your music muscle. He's a famous record producer and chairman of Universal's Interscope, Giffen and A&M record labels. There are rumors that he may be brought into Apple as a special advisor to Tim Cook. Apple changed digital music with the iPod and iTunes. But Apple may need fresh perspective to keep innovating and perhaps come up with a product that can compete with Spotify. Now moving on from streaming music to streaming movies, Netflix has raised its monthly subscription price by $1 more a month. But if you already subscribe to Netflix, you won't have to pay anything extra for another two years. For now, only newcomers have to pay the higher $9 monthly fee. Netflix will be using that extra cash on beefing up its video offerings and investing in exclusive shows. Like House of Cards starring Kevin Spacey. And there's a new app that Kevin Spacey's corrupt character would really love. It's called Make It Rain, The Love of Money. This odd game has gone viral. And it's at the top of the iTunes charts. It's satire on our obsession with wealth. And it encourages you to swipe your finger on a stack of cash really fast and be corrupt and manipulative to earn virtual money. You only get rich if you get into insider trading, subprime mortgages, and bribe politicians. What's crazy is that people are spending their actual, American dollars to buy a booster pack in the game to bribe the FBI. Now if you can make it past the investigation, you can invest in larger businesses. There's always money in the banana stand. That's your tech news update. From our studios in New York, I'm Bridget Carey.
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