Jimmy Iovine Says He's Not Leaving Apple, Calls Rumours 'Fake News'

Jimmy iovine dr dre

Beats co-founder Jimmy Iovine has squashed rumors that he's leaving his post as Apple Music chief - and leaving Cupertino altogether - in August.

"I am nearly 65, have been with Apple for four years and in 2 1/2 years the [Apple Music] service has gotten to well over 30 million subscribers and Beats has continued its successful run".

"There's still a lot more we'd like to do". The executive said he is committed to doing whatever Eddy Cue, Tim Cook and Apple need him to do to take the service all the way. "I am in the band", Iovine told Variety. "I have a deal, and certain things happen along that deal", he added.

The music mogul was on stage at the Grammy Museum for a screening to promote the Grammy-nominated HBO documentary "The Defiant Ones", and during the following Q&A he shot down the reports that claimed that the end of his contract would coincide with his departure from the company (we first saw the news via Variety).

Holder Arrowgrass Capital Partners Llp Upped Disney Walt Co (Call) (DIS) Holding
After $1.07 actual EPS reported by The Walt Disney Company for the previous quarter, Wall Street now forecasts 48.60% EPS growth. The fund owned 20,894 shares of the entertainment giant's stock after purchasing an additional 13,164 shares during the quarter.

The positive answer: Apple makes real revenue from the Beats headphone line Iovine sold them.

Should Iovine exit in the summer, he would be leaving having accomplished one key goal: the 2015 launch of Apple Music. On this matter, Iovine said he thought different. Less successful has been Apple Music's plans for original video content. That's why those articles annoyed me, because it had nothing to do with reality.

Last week, the music industry blog Hits Daily Double and Billboard reported Iovine is leaving the company, which he joined in 2014 when the iPhone maker bought his company, Beats, for $3 billion. 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. Still, that Apple was able to build its streaming service to that size in such a short period of time, effectively keeping pace with Spotify's growth, is nonetheless impressive.

Likewise, thanks to how merged the American producer is with the music industry, and due to the number of important artists the Interscope's label executive knows, Iovine's been considered as a crucial key to the firm when talking about contacts.

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