Dr. Dre and Jimmy Iovine sold $300 headphones during the 2008 crash by doing the opposite of what the industry expected. They spotted a cultural moment, recruited top artists to wear Beats in music videos, and turned headphones into a status symbol that sold the company for $2.4 billion.
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Doctor Dre and Jimmy Iovine built a brand so strong they were able to sell $300 headphones during the 2008 crash and made $2.4 billion selling it. But what's different than what most celebs did is a couple of things. They had a surprisingly unbeatable strategy. See what I did there? First they asked themselves, what is everyone else doing? How can we do the opposite of all the rest? The next question was, what is happening all around us that's cool but also annoying. Cool equals music now being listened to everywhere. Annoying equals these things. Old school, shitty, tangly headphones. So they came with a business idea that the best artists of this generation were getting reduced to $1 plastic earbuds. They hit up all the big names in the music industry. Then they got those artists amped up about a new way to hear their genius and got into their music videos. This helped Beats become a status symbol to a whole generation.