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

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Recently, Apple informed that Apple Music gathered 30 million paid users, putting the company on the second place behind the Swedish-based music streaming service, Spotify - which has 70 million monthly paid subscribers, as informed on Thursday. 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.

Last week, a report emerged claiming that Apple Music's Jimmy Iovine was planning to depart the company come August.

Last week, the music industry blog Hits Daily Double and Billboard reported Iovine is leaving the company, which he joined in 2014 when the iPhone maker bought his company, Beats, for $3 billion.

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Iovine has been a colourful figurehead for Apple Music and a dynamic presence within the company, although it's also true that Apple has built a talent roster that looks able to thrive and prosper when he does eventually leave.

Iovine and Beats co-founder Dr. Dre stand to make up to $700 million once all their respective shares are fully vested, according to an earlier Variety report this month.

Iovine is definitely still committed to the Apple cause but he admits he doesn't want to stick with the music business forever.

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Dre replied: "I'm working on a couple songs right now. I have a deal, and certain things happen along that deal", he added. The bottom line is I'm loyal to the guys at Apple. The famous producer, however, wasn't pleased about the media's focus on this aspect: "Those articles annoyed me, because it had nothing to do with reality". Less successful has been Apple Music's plans for original video content. Billboard cites an interview with Iovine back in September that his focus was bringing music streaming up to speed. Apple Music now has over 30 million subscribers, which is a fairly good number considering that the service is just two-and-a-half years old.

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.

Since joining Apple four years ago, Iovine has helped turn Apple Music into a massive empire.

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