Music mogul Jimmy Iovine ‘s days at Apple might be numbered. New reports claim the former head of Interscope Records is halfway out the door.
According to multiple reports, Iovine could bid farewell to the digital giant’s Apple Music by next summer.
The former Interscope CEO joined Apple in 2014 after selling Beats, the the music service and electronics business that he and Dr. Dre co-founded, to the tech giant for $3 billion. It is believed his departure is timed to his Apple shares fully vesting, sources tell Billboard. Apple declined to comment. Hits Daily Double first reported the news. (Billboard)
Under Iovine, Apple Music has grown to 30 million paid users, putting its popularity at a little under half of Spotify’s 70 million monthly paid subscribers, a milestone the Swedish-based music streaming service announced earlier today. 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. The success has earned Iovine the respect among technologists that he’s long enjoyed as a music industry executive. (The Verge)