The record producer, Beats co-founder, and head behind Apple’s music streaming service, Jimmy Iovine, is planning to leave the American firm in August – as reported on Thursday. This date matches with his shares fully vesting and follows Iovine and Dr. Dre’s sale of headphone maker Beats to Apple, completed in 2014, for $3 billion. The Cupertino-based company did not comment anything after being asked.
Apple never talked about Iovine’s place in the company. However, according to Business Insider, he probably has been a dealmaker working on Apple Music to gather interviews with original radio shows and to work with record labels.
This information was first released by Hits Daily Double, but then Billboard confirmed it on Thursday thanks to its sources.
Apple might consider tragic to lose the man who introduced the link between the technology and the record label that let users convert the streaming music of Beats into Apple Music.
Likewise, thanks to how merged the American producer is with the music industry, and due to the number of important artists the Interscope’s label executive knows, Iovine’s been considered as a crucial key to the firm when talking about contacts.
He has been extremely helpful to the Cupertino-based company. Thanks to Iovine, Elton John, Pharrell Williams, Joshua Homme, among others, held presentations in Apple Music’s shows.
The music mogul
The American company has been not the same since Iovine joined the firm. Recently, Apple informed that Apple Music gathered 30 million paid users, putting the company on the second place behind the Swedish-based music streaming service, Spotify – which has 70 million monthly paid subscribers, as informed on Thursday.
Although the difference is still notable, it’s remarkable how the number of Apple Music’ paid subscribers increased since the producer joined the company. This impressive goal gives him value and respect among the music industry and the technologists.
Iovine has not commented anything either, so it’s still unknown what he’s planning to do after he leaves Apple. However, after knowing how capable and important this producer is within the industry, is not a problem for him to find a new job.
The executive once expressed his concerns about Goldman Sachs saying that the record business could largely increase thanks to the music streaming area. On this matter, Iovine said he thought different.
“There’s just a problem here that needs some sort of solution, and I want to contribute to it,” he told Billboard. “Goldman Sachs may think it’s solved, but I don’t. We’re not even close.”
Jimmy always felt better being behind Apple’s curtains. He preferred not to be a public image of the company, so he used to stay away from the majority of interviews related to Apple.
Source: Hits Daily Double