Jimmy Iovine Finally Denies Rumors Suggesting He Is Leaving Apple

Jimmy Iovine Jony Ive

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"But 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", said Iovine.

Reports surfaced last week that Apple (NASDAQ: AAPL) could be losing its Apple Music chief, Jimmy Iovine.

"There is a tiny portion of stock that vests in August, but that's not what I think about", Iovine added. The bottom line is I'm loyal to the guys at Apple. Thanks to Iovine, Elton John, Pharrell Williams, Joshua Homme, among others, held presentations in Apple Music's shows.

This was in August 2014, and come this August, the pair will have fulfilled their four-year contracts, meaning the stock will be vested, and worth a pretty penny more than it was back in the dark ages of 2014. 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. As usual, it's hard to fully understand what Iovine means, but it's clear he's fully committed to Apple.

Instead of immediately denying the idea that Detox will ever see the light of day, Haynes says that Dre responded, "I'm working on a couple songs right now". Iovine actually called it annoying and was upset that the media made it "all about money". They expanded the brand by buying struggling music streaming service MOG in 2012 and turning that into a the subscription-based Beats Music before selling to Apple.

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Iovine, best known as the co-founder of Interscope Records, joined Apple in 2014 after the company bought Beats Electronics, a company that he co-founded with hip-hop artist and producer Dr Dre for $3 billion.

The exec also hinted that more original content could be in the works, noting that numerous most popular video-streaming services are able to differentiate themselves with large catalogs of original content, while music-streaming services all offer almost identical catalogs.

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The industry veteran also cautioned against complacency, even as streaming is driving a music industry turnaround: "Everybody's talking about the great oil gusher, but it's not going to scale unless streaming gets more interesting".

The executive once expressed his concerns about Goldman Sachs saying that the record business could largely increase thanks to the music streaming area.

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