Jimmy Iovine Reportedly Leaving Apple Music Chief Executive Position In August

Jimmy Iovine at a Los Angeles Lakers game in October 2017.    
   Allen Berezovsky  Getty Images

Now it's being reported that Iovine is planning to depart the company in August of this year, the same time that his shares in Apple will fully vest.

Iovine's departure, timed to the end of an employment contract, has been widely discussed throughout the music industry for many months. I have no idea [what I'm doing next]. Apple declined to comment.

With Iovine at the helm, Apple Music endured a shaky start and has gone on to be something of a success. And while Iovine told reporters last spring that he was spearheading the company's move into video, he hasn't had an active role in its billion-dollar push into original TV shows; those efforts are headed by former Sony executives Jamie Erlicht and Zack Van Amburg, who also report to Cue.

Iovine didn't have have a formal title while leading Apple Music, but the co-founder of both Interscope Records and Beats (a streaming and headphone company Apple acquired in 2014) brought almost unmatched industry savvy to Apple's new streaming service.

Iovine and Dre moved into the consumer electronics space with Beats by Dre headphones in 2008.

Apple Music now has 30 million subscribers, a number far less than the ambitious goals Apple had laid out during its launch in 2015.However, earlier this week the industry leader Spotify announced that it has 70 million subscribers and it seems Apple has a lot of ground to cover to catch up with the Swedish company founded by programmer Daniel Ek. You can attribute some of that to the connections and salesmanship that Iovine brought to Apple as it courted artists for the new service. In 2017, the still-private company's losses are assumed to have continued, though it had recorded an impressive $2.2 billion in just the first half of 2017.

That's an increase of 10 million subscribers from this past July when Spotify said that its subscriber count was at 60 million.


  • Sunday action for Barca and Real Madrid

    Tax evasion allegations by Spanish authorities have also damaged Ronaldo's resolve to stay, it's said. The Egyptian star was crowned the Premier League Player of the Month for November.
    Acer's latest entry-level Chromebook 11 adds color and USB-C

    Acer's latest entry-level Chromebook 11 adds color and USB-C

    Meanwhile, its CB311-8H counterpart will use the same LCD panel, but rely on the trackpad for control instead of touch. Both the HP Chromebook 14 GS and Chromebook 11 G6 models are based on the 7th generation Intel Celeron N processors.

    Crew of 32 missing after ships collide off eastern China

    There were 30 Iranians and two Bangladeshis on the tanker, but all were missing as of Sunday, Chinese authorities said. It was due to arrive at Daesan in South Korea from Kharg Island in Iran on Sunday, according to Reuters ship tracking.
  • Man killed in explosion at Stockholm station

    Man killed in explosion at Stockholm station

    Numerous illegal hand grenades found in Sweden are being imported from former Yugoslav nations, he said. It is being reported by local media that the second injured person is a 45-year-old woman.
    The Mayor canceled by ABC

    The Mayor canceled by ABC

    Variety reports that the show, starring Brandon Micheal Hall as a hip-hop artist who is elected mayor, is "effectively canceled". The network's half-hour bench includes its Roseanne revival, family comedy Splitting Up and Zach Braff vehicle Alex, Inc .
    Andy Murray out of Australian Open with hip injury

    Andy Murray out of Australian Open with hip injury

    Murray added that he appreciated all the supportive messages he has received regarding his injury and hopes to "be back playing soon".
  • Change of govt inevitable in Tripura: Amit Shah

    Change of govt inevitable in Tripura: Amit Shah

    Shah in Udaipur said, "We want change not of chief minister or of party we want change for changing the lives of the people". While the country is free from malaria, Tripura still have malaria cases.
    Wozniacki battles to reach Auckland final

    Wozniacki battles to reach Auckland final

    It was finally in the eighth game that Wozniacki was able to convert her third breakpoint chance to level the set at 4-4. The 2016 champion Alize Cornet was dispatched in the first round yesterday by the Romanian Mihaela Buzarnescu.

    Dick Vitale turns on ESPN for LaVar Ball coverage

    Walton said he "would disagree" with the assertion he had lost the locker room. "We're going to play for him". Dallas Mavericks coach Rick Carlisle, who's also the head of the coaches association, was less than pleased.
  • Brilliant Kyrgios too good for Dimitrov

    Brilliant Kyrgios too good for Dimitrov

    The top seed broke in the sixth game to win the first set in 30 minutes. "I was just seeing the rule and where line is. The third-seeded Australian, the World No. 21, defeated world No.3 Dimitrov in one hour and 33 minutes, reports Efe.
    LeSean McCoy to play vs. Jaguars

    LeSean McCoy to play vs. Jaguars

    At the tail end of the magnificent run, he put lockdown cornerback Jalen Ramsey, who is a solid tackler, in a blender. The Jaguars were finally able to move the ball on the final drive of the half.
    Saakashvili sentenced in Georgia to 3 years in absentia

    Saakashvili sentenced in Georgia to 3 years in absentia

    The Ukrainian leader a year ago stripped Saakashvili of his citizenship while he was overseas . Currently, Saakashvili is involved in organizing anti-government protests in Ukraine.


Other news