Jimmy Iovine reportedly leaving Apple in August

Delia Watkins
January 6, 2018

Jimmy Iovine has helped Apple Music reach 30 million paid users, nearly half way to Spotify's 70 million monthly paid subscribers.

One of the chief architects of Apple's (NASDAQ:AAPL) push into streaming music appears set to leave the company this summer. Though Iovine doesn't have an official title with the company, his ties to Apple go back to 2003, when he pitched a music subscription service to Steve Jobs.

The impending departure of Iovine was first reported by industry blog Hits Daily Double.

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According to multiple reports, Iovine could bid farewell to the digital giant's Apple Music by next summer.

However, Apple Music still lags behind Swedish streaming powerhouse Spotify, which recently announced it now has more than 70 million subscribers. Iovine arrived at Apple as a part of $ 3 billion acquisition of Beats Electronics and Beats Music, which he co-founded with Doctor Dre.

The Bloomberg report says that Iovine's tendency to "trust his gut" has led to conflict within Apple. Both services continue to grow at healthy rates, and Apple Music has been able to mostly keep up, with roughly half as many paid subscribers at any given time, so Apple Music could easily be approaching 35 million. "Or complaining about boys, when they have their heart broken or whatever" and need music to match their moods. "I could have chosen my words better, and I apologize". "I'm trying to help Apple Music be an overall movement in popular culture, everything from unsigned bands to video". It's unknown what the 64-year-old music mogul will do next. "I have no idea", said Iovine. "We're not even close".

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