Blavatnik’s Investment In Beats’ Music Service Signals Major Change

Len Blavatnik: A billionaire bets on streaming.

Beats Electronics, purveyor of the wildly successful Beats By Dr. Dre headphones, announced late last night that billionaire Len Blavatnik and a consortium of investors will pour $60 million into Daisy, the company’s nascent music streaming service.

Other investors include fellow billionaires Marc Rowan, cofounder of Apollo Global Management; James Packer, an Australian entertainment tycoon; and Lee M. Bass, a Texas oil man. Daisy, now set for a l...