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

Jimmy Iovine May Not Be Leaving Apple After All

"I am in the band", Iovine told Variety.

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Apple Music's Jimmy Iovine has denied reports that he's planning to leave the company in August when the last of his Apple shares vest under the terms of its 2014 acquisition of Beats Electronics. He also mentioned that he does not have a contract with Apple, he has a deal with it and there are a lot of details within.

Recent reports have suggested that Iovine would be leaving Apple in August 2018 after his contract ends.

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Iovine says that most of his stocks have already vested, and while there are a few left to vest in August, he's not at all concerned with the money aspect of everything. "I have a deal, and certain things happen along that deal", he continued in the Variety story. 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. The bottom line is I'm loyal to the guys at Apple. "Under IOVINE's leadership, APPLE MUSIC has seen strong growth since its debut, with the service now boasting more than 30 million subscribers". That's why those articles annoyed me, because it had nothing to do with reality. This is all thanks to Iovine's leadership, which has moved the streaming music service into videos and original programming.

"Everybody's talking about the great oil gusher, but it's not going to scale unless streaming gets more interesting".

What do you think the future for Apple Music is? It is this original content which he puts down to their success.

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