Published: Fri, January 05, 2018
Technology | By Russell Knight

Jimmy Iovine Set To Depart Apple Music In August

Jimmy Iovine Set To Depart Apple Music In August

Apple acquired Beats, the headphone maker and music streaming service co-founded by Iovine and Dr. Dre, for $3 billion in May 2014.

Iovine, who was brought in to kickstart Apple's move into the subscription music business, has had a limited role within the company for some time. It is believed his departure is timed to his Apple shares fully vesting, sources tell Billboard.

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Apple Music is headed by Robert Kondrk, who reports to content boss Eddy Cue.

Iovine has been making progress with Apple Music, but it's unlikely he'll turn the streaming music market into the massive cash cow studios want by August.

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Bloomberg confirmed that Iovine will leave Apple after he receives the final payout from the Beats Electronics acquisition. Apple, for the record, declined to comment; I haven't heard back from Iovine. Shazam's tech could be integrated into more Apple products in the future. "I'm trying to help APPLE MUSIC be an overall movement in popular culture, everything from unsigned bands to video".

According to Bloomberg, the producer and co-founder of Interscope Records is not likely to remain with the company even if a new deal is offered to him.

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