wnol.info July 20 2018

Beats co-founder Jimmy Iovine to leave Apple Music in August

July 20 2018, 08:36 | Guillermo Bowen

Beats co-founder Jimmy Iovine to leave Apple Music in August

Beats co-founder Jimmy Iovine to leave Apple Music in August

Jimmy Iovine, who sold Beats Electronics to Apple Inc. Now that the shares from that rumored $3 billion sale are set to be vested, Jimmy is rumored to be on the way out. Iovine, a famous producer and Interscope Records' co-founder, created the audio company with Dr. Dre back in 2006. Hits Daily Double first tipped the departure, which is apparently slated for August of this year. Apple didn't buy Beats because Beats was a strong business with robust financials (it was the opposite); Apple bought Beats because it had an incredibly strong brand and had foundational pieces of a music-streaming service, and the talent to go with it.

Until Apple or Iovine confirm the upcoming departure, however, it's best to take rumors and reports with a grain of salt.

Iovine, the former Interscope CEO, joined Apple in 2014 and was instrumental in launching and establishing Apple Music as one of the leading music streaming services across the globe. In September 2017, Apple Music reached more than 30 million subscribers and saw 17 percent growth in the first half of 2017 compared to a year prior.

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An Apple Music subscription, like Spotify, costs $9.99 per month and plays ad-free music.

While Apple Music-born out of Iovine and Dr. Dre's own Beats Music streaming service-has been successful, it has not become the market leader.

About Making Comments on our Site: Patently Apple reserves the right to post, dismiss or edit any comments. He was a key proponent of both the device and the music download service. "I'm trying to help Apple Music be an overall movement in popular culture, everything from unsigned bands to video".

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