Billboard published a report on January 4th stating that Apple's Music's Jimmy Iovine was leaving Apple in August. "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", he said, contradicting Bloomberg's report that he hasn't been getting along with services chief Eddy Cue.
On Tuesday, Apple partners Dr. Dre & Jimmy Iovine were spotted hanging out together at the practice of the Golden State Warriors when ESPN reporter Chris Haynes made a decision to ask Dre if Detox was ever going to come out, to which Dre responded that he's working on new music at the moment.
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An uncomfortable question for Apple: Did it get its money's worth when it paid Iovine and his partner, Dr. Dre, $3 billion for Beats four years ago - the largest acquisition in the company's history? Another source says Iovine's plan was always to exit once hitting the last of his exercise options over a three-year vesting period.
Some of his best work was behind the scenes, he made other people great and I think that's the thing that made him so special.Apple used Beats Music as the backbone for Apple Music, a $10 per month streaming music service meant to rival Spotify and Tidal, the streaming app started by Jay-Z.
Apple never talked about Iovine's place in the company. "I have a deal, and certain things happen along that deal", he continued in the Variety story. I love Apple, and I really love musicians. The bottom line is I'm loyal to the guys at Apple.
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Iovine spoke about the possible financial reasoning and said that he was not pleased that the media focused on this aspect of the rumor.
As for the future, Iovine says he will help "streaming come to scale".
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With a tech giant such as Apple behind its back, technology will undoubtedly be a factor in the evolution of the streaming offering and its platform - however, Iovine is convinced that technology can't do everything on its own. As for how long he'll stay with the company, he could only say that he doesn't see himself still doing music at 75 - the exec is turning 65 in March.