And what about Dre?Â Beats co-founder Jimmy Iovine is expected to leave Apple in August, according to reports circulating Thursday.
Music producer, label executive and headphone scion Jimmy Iovine is now reportedly leaving Apple, according to reports surfacing Thursday.Â Hits Daily DoubleÂ first tipped the departure, which is apparently slated for August of this year.
Earlier, Iovine helmed Beats by Dre before Apple acquired the headphones manufacturer for $3 billion and change.Â The headphone brand was also complemented by Beats Music, itself an rebranded acquisition of the struggling MOG.Â Since the juicy buyout, Iovine has been playing an active role at the consumer electronics giant, particularly within Apple Music.
Apparently that relationship isnâ€™t going as smoothly as we thought, though these things happen with restless founders.Â Accordingly, August apparently coincides with Iovineâ€™s vesting date, which basically means â€˜there isnâ€™t a cultural fitâ€™.
Exactly what this means for Apple Music is anyoneâ€™s guess.
Iovine championed a paid-only approach, one that boosted payouts to artists while aiming to improve streaming monetization overall.Â That contrasts starkly with Spotifyâ€™s â€˜freemium funnelâ€™ approach, which is rapidly boosting paying subscribersÂ â€” and possibly minting a new class of billionaires in the process.
That said, Iovine had some salty words for Spotifyâ€™s shaky business model.Â â€œThe streaming business is not a great business,â€ Iovine noted last year.Â â€œItâ€™s fine with the big companies: Amazon, Apple, Googleâ€¦ Of course itâ€™s a small piece of their business, very cool, but Spotify is the only standalone, right?Â So they have to figure out a way to show the road to making this a real business.â€
Then thereâ€™s the question of Andre Young, aka Dr. Dre.Â The rapper was ushered into Appleâ€™s executive ranks with the Beats acquisition, thoughÂ issues involving violence against womenÂ may have marred his tenure.Â Frankly, weâ€™re unsure if Dre is still part of the Cupertino family.
Source: Digital Music News