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Co-founder of Beats Electronics, Jimmy Iovine has revealed that the company is looking into the streaming market and that they feel “subscription music online is culturally adequate” and not yet satisfying its consumers. His comments came in a Bloomberg Businessweek interview after Beats acquired MOG at the end of March. Although several reports and online rumors have signaled that the deal was complete and done with, there is still no official word from either of the companies.

The way Iovine looks at things is that streaming is an opportunity where download markets are not and while he believes that Apple has got that part of it very right, he says that none of the current streaming providers have managed to draw the vast majority of subscribers needed to make the business model tangible. The co-founder of Beats did mention that he “can’t show the magic trick” because right now the services are utilities and that they can only see things in a complete thought. Seeing as the Beats Audio EQ is already integrated with many of HTC’s (which owns 51% of the company) current smartphones, could Beats also be looking into integrating a music streaming service, with a twist?

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