Apple is remaking Beats Music, which it acquired from Jimmy Iovine last year, to be the leader in the music industry.
Beats Music is a subscription-based online music streaming service owned by the Beats Electronics division of Apple, Inc. First developed in 2012 under the name “Daisy”, the service combines algorithm-based personalization with expert music suggestions from a variety of sources.
Meanwhile Iovine is predicting a great future in Hollywood for NBA star LeBron James.
An industry insider was quoted by Billboard magazine as saying that Apple wants to take over the entire music business.
“The proof is in the 800 million credit cards it already has on file — comparably, Spotify has 15 million subscriptions and 60 million monthly users, although the service is growing, headed to an initial public offering.”
“In fact, integration has begun. Apple TV features a Beats logo, an update to Apple’s iOS will include streaming and creative is in the works for new ads starring artists recruited by Iovine. But that may be the extent of Beats’ involvement as Kondrk takes the lead on music. Like the Apple-centric design of its offices, the look and feel of Beats is likely to mirror Apple’s aesthetic, not the other way around.”
As for possible future business dealings with LeBron James, who himself will have earned close to $1 billion in salary and endorsements whenever the current Cleveland Cavalier chooses to retire from basketball, and his friend and businessman Maverick Carter, Iovine said, “LeBron’s got a business head about him. He doesn’t breathe his own exhaust, which is very important. They’re smart as all hell, and they have a feel for popular culture. Sometimes you’ll have an athlete or a star who is so talented and the manager is out of control. In this case, the whole team is in lockstep. They’re like a little army.”
High powered talent agent Ari Emanuel said of the two, “One of the great things about LeBron and Maverick is they’re still very curious. You can bring anything up; nothing’s a bad idea.”