Last week, Beats co-founder and legendary music producer Jimmy Iovine reportedly was ready to leave Apple Music later this year once his Apple shares become fully vested. He said that his next chapter will involve getting Apple Music to another level of streaming.
In a recent statement to Variety, Iovine said he is nearly 65, has been with Apple for four years and in two-and-a-half years, Apple Music has gotten to well over 30 million subscribers.
"My contract is up in August", he conceded, "but the amusing thing is, I don't have a contract. I am in the band", Iovine told Variety. And Apple now says it has 30 million paying subscribers for Apple Music, which means it is generating real revenue, even if it is less than the ambitious goals Apple had laid out to the music industry in advance of its 2015 launch.
Apple Music, the service the company launched a year after buying Beats, is run by longtime Apple exec Robert Kondrk, who reports to content boss Eddy Cue.
"The article quotes Iovine saying, ".there's still a lot more we'd like to do. I have a deal, and certain things happen along that deal.
Dre and Jimmy Iovine were watching Steph Curry and Kevin Durant at a Warriors workout on Tuesday when ESPN's Chris Haynes brilliantly asked him if Detox was permanently shelved. Iovine actually called it annoying and was upset that the media made it "all about money". The bottom line is I'm loyal to the guys at Apple.
"I don't see myself at 75-years-old running around doing music".
The service's main rival Spotify, however - despite having been around for about a decade - has well over 70 million paying members, so there's obviously work to do.
Although Iovine has been a huge success in shaping Apple Music, he did mention that he is reaching an age where he'll need to slow down.
"It will make music better, it will make it sound better, and improve access and delivery, but I'm not sure that benefits the labels unless the labels do something to make the proposition more interesting", he said.