Jimmy Iovine rumoured to be leaving Apple Music in August

Rumour has it Apple Music is losing one of the key figures that has helped the service grow to over 30 million paying subscribers. It’s said Jimmy Iovine is set to leave Apple in August when his shares have fully vested. Iovine, the former Interscope CEO, joined Apple back in 2014 after he, together with Dr. Dre, sold Beats, both the electronics business and music service to Apple. But Iovine’s relationship with the company started back in 2003 when he first met Apple founder Steve Jobs and exec Eddy Cue. He’s considered a key proponent of Apple’s iTunes and iPod.

While neither Iovine nor Apple commented on the report, Billboard asked Iovine back in a September interview what he planned to do after Apple Music, he spoke about bringing music streaming up to speed. He disputes a report by Goldman Sachs that predicts subscription streaming would turn the global record business into a US$41 billion business by 2030. He says, “I’m 64 years old. I have no idea [what I’m doing next]. There’s just a problem here that needs some sort of solution, and I want to ­contribute to it. Goldman Sachs may think it’s solved, but I don’t. We’re not even close.”

Source: Billboard