Jimmy Iovine to leave Apple Music in August

Apple Music chief Jimmy Iovine to move out in August this year: Report

Meanwhile, during a September interview with BB, Ioving told the publication his plans after a departure from Apple Music.

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Leader of Apple Music, Jimmy Iovine, is said to be leaving the company in August after a final payout from the sale of his Beats Electronics firm, which was $3bn at the time. After building Interscope records to a powerhouse off the strength of Death Row Records and later Eminem and 50 Cent, Iovine transitioned to Apple Music in 2014 after he and Dr. Dre sold their Beats company to the tech behemoth. It's still well beyond leading services such as Spotify, which has 70 million monthly subscribers, but it's been going strong and seeing steady growth under Iovine. He co-founded Beats, a company that made high-end headph0nes, with Dr. Dre. Bloomberg says these efforts are under Cue, not Iovine, but they have been slow to get moving. The longtime record-label executive's vision for Apple's music and video projects has sometimes clashed with the views of others at the company, including Eddy Cue, who runs the services business. He worked with top artists such as John Lennon, Bruce Springsteen, U2, and more. He also famously signed Tupac Shakur in 1991. Even before the Apple acquisition, Beats managed to secure a 60 percent market share of headphones priced $100 or more. He said the impetus for Apple Music came when he thought of "girls... sitting around talking about boys". It was exactly this kind of approach that Steve Jobs built Apple on both in his original tenure in the 70s and 80s and after his return in 1996. Multiple reports confirm the news, but no official statement is available yet.


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