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Quartz | News & Opinion | Media: TV, Print, Online, Jobs, Ranking The Dish Moneybox This story first appeared in Inc. In six years, Interscope records mogul Jimmy Iovine and hip-hop icon Dr. Dre have turned Beats by Dr. Dre headphones into a $1 billion-plus business. Now, together with new president and former Interscope executive Luke Wood, they’re faced with a new challenge: taking a hot brand and making it, you might say, even hotter. To that end, Beats Electronics has introduced portable and wireless speakers, co-branded smartphones—and in January it even launched a new streaming music service, Beats Music, to compete with the likes of Spotify. “You’ve got to be lucky enough to identify a problem where you think you can help,” says Iovine. “We got dumped on by audiophiles on Day One,” says Iovine. Assemble an All-Star Focus Group Photo by Noam Galai/Getty Images for Beats by Dr. When developing the first Beats headphones, Iovine would lay out various prototypes in his Interscope offices and then poll everyone who came to see him. What Are Consumers Thinking About?

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