Jimmy Iovine Leaving Apple In August

Jimmy Iovine at a Los Angeles Lakers game in October 2017.    
   Allen Berezovsky  Getty Images

Early previous year, Iovine said: "I'm trying to help Apple Music be an overall movement in popular culture, everything from unsigned bands to video".

Iovine, a longtime record-label executive, is also the co-founder of Interscope Records, which became Interscope Geffen A&M after a merger in 1999. Hits Daily Double first tipped the departure, which is apparently slated for August of this year.

Iovine helped Apple launch its streaming service back in 2015. Time will tell what his next endeavor will may be, but it's completely understandable if the industry veteran takes his Beats bag and goes home. Multiple reports confirm the news, but no official statement is available yet.

However, Apple Music still lags behind Swedish streaming powerhouse Spotify, which recently announced it now has more than 70 million subscribers.

Apple Music now has 30 million subscribers, a number far less than the ambitious goals Apple had laid out during its launch in 2015.However, earlier this week the industry leader Spotify announced that it has 70 million subscribers and it seems Apple has a lot of ground to cover to catch up with the Swedish company founded by programmer Daniel Ek.

It is unclear what is Iovine's next step if he does plan to move, or who would be replacing him. Experiments like Carpool Karaoke have not made a significant impact on the market, though Iovine's efforts to push curated music and other perks are laudable to music obsessives. He's worked closely with Eminem, Lady Gaga, and Bruce Springsteen-he was closed involved with the iconic Born to Run album by the last of those. The two then sold the entirety of the company to Apple.

Sources claim that lovine will leave Apple in August 2018, which is said to coincide with when his Apple shares fully vest.

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