Jimmy Iovine Calls Report Of Him Leaving Apple Music "Fake News"

Sources Jimmy Iovine To Leave Apple In August Jeffrey Yau

UPDATE: A January 9th article in Variety says, "Jimmy Iovine shot down rumors that he plans to exit Apple in August telling Variety that he's committed to staying on the team and helping the company get music streaming right". "I am committed to doing whatever Eddy (Cue), Tim (Cook) and Apple need me to do, to help wherever and however I can, to take this all the way".

New reports have emerged in the past week that state Apple could be losing its music chief, Jimmy Iovine, in August.

Iovine admitted that he does own shares that will vest in August, as the initial reports claimed.

Iovine joined Apple in 2014 after selling Beats Electronic, an initiative he co-founded with Dr Dre, to Apple for $3 billion.

Iovine has not commented anything either, so it's still unknown what he's planning to do after he leaves Apple. Another source says Iovine's plan was always to exit once hitting the last of his exercise options over a three-year vesting period. "I have a deal, and certain things happen along that deal".

He also spoke about what's next, and said that his main objective will be focusing to get streaming right. Apple Music is now second in music streaming behind Spotify, who now has 70 million monthly paid subscribers.

Jimmy Iovine said he's not leaving Apple.

Music mogul Jimmy Iovine isn't here for the fake news.

The positive answer: Apple makes real revenue from the Beats headphone line Iovine sold them. The famous producer, however, wasn't pleased about the media's focus on this aspect: "Those articles annoyed me, because it had nothing to do with reality". Billboard cites an interview with Iovine back in September that his focus was bringing music streaming up to speed.

Iovine does not have a title at Apple Music but has been seen as an influential presence, using his deep connections in the music industry to build the service's catalogs.

"It will make music better, it will make it sound better, and improve access and delivery, but I'm not sure that benefits the labels unless the labels do something to make the proposition more interesting", he said.

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