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Rumors denied: Jimmy Iovine to stay at Apple

12 January 2018

"I am nearly 65, have been with Apple for four years and in two and a half years the service has gotten to well over 30 million subscribers and Beats has continued its successful run".

"But there's still a lot more we'd like to do", said Iovine. "I love Apple, and I really love musicians".

This is the best news for Apple as its music streaming service has risen to No. 2 behind Spotify. That's why those articles annoyed me, because it had nothing to do with reality. Iovine actually called it annoying and was upset that the media made it "all about money".

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Jimmy Iovine says he isn't going anywhere.

"I'm working on a couple songs right now". Assuming those shares vested over four years (which is a common vesting schedule), Iovine would be free to leave with his shares intact after July 31, 2018, which marks four years after the deal officially closed. Those using abusive language or negative behavior will result in being blacklisted on Disqus. Now, with their contracts with Apple up this summer, Iovine and Dre are set to cash in on some lucrative Apple stock. The streaming service now boasts more than 30 million subscribers, which in three years, is an impressive feat, especially seeing that it doesn't offer a free tier.

"My contract is up in August, but the amusing thing is, I don't have a contract", said Iovine.

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Since joining Apple, music industry legend Jimmy Iovine has cut an impressive figure by creating and bringing Apple's flagship music streaming service Apple Music to life. "I don't see myself at 75-years-old running around doing music", Iovine said.

For now, though, Iovine maintains that he is sticking around "to help streaming come to scale" which judging by his comments at the event, revolves around developing the kind of original content that has fuelled Netflix's growth, but around music.

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Rumors denied: Jimmy Iovine to stay at Apple