Sci-tech

Apple Music's Jimmy Iovine is leaving Apple

Apple Music's Jimmy Iovine is leaving Apple

XXL has reached out to Apple Music for comment.

Jimmy Iovine, leader of Apple Inc.'s music-streaming service, is planning to part ways with the company in August after receiving a final payout from the $3 billion Beats Electronics deal, according to a person familiar with the matter.

Before founding Beats headphones, Iovine was known as a star-making music executive, creating Interscope Records in 1990 and signing distribution rights for legendary rappers such as Tupac Shakur, Snoop Dogg and Dr. Dre. Even though Iovine was key to the launch of Apple Music, now it is run by Robert Kondrk, who reports to Eddy Cue. Iovine's expected departure is likely timed to his Apple shares fully vesting, the report said.

He reportedly met Steve Jobs and Eddy Cue back in 2003 and was a big supporter of the iTunes service and iPod early on, something that was important for Apple.

Iovine had ordered up video series to give Apple Music more exclusive features to entice subscribers, but projects such as "Planet of the Apps" and "Carpool Karaoke" haven't built much buzz.

When Iovine joined Apple, it was reported that he would work under Cue who ran the company's Internet services division. It has 30 million paying subscribers, but Spotify has 70 million. There simply aren't many people with his knowledge, experience, and vision in the music industry, so it's hard to imagine his departure won't be a step back for the service, despite its ongoing success. Still, that Apple was able to build its streaming service to that size in such a short period of time, effectively keeping pace with Spotify's growth, is nonetheless impressive.

He has strong ties to the music industry.


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