Apple Taps European Executive to Run Global Music Business
April 11 2018 - 03:43PM
Dow Jones News
By Tripp Mickle
Apple Inc. tapped the head of its European music and content
operations to lead Apple Music world-wide, a role of growing
importance as the tech giant aims to boost its services revenue
amid slower iPhone unit sales.
Oliver Schusser, who joined Apple in 2004 and introduced iTunes
in Europe, will become vice president of Apple Music and
international content, reporting to Eddy Cue, senior vice
president, internet software and services. Mr. Cue made the
announcement in an email to staff Wednesday, according to a person
familiar with the email. The appointment was earlier reported by
Variety.
The promotion comes weeks after Jimmy Iovine, who has been the
public face of Apple Music, confirmed he would transition into a
consulting role in August. He had joined Apple as part of its
acquisition of Beats Electronics LLC in 2014 for $3 billion, a deal
that helped jump-start Apple's music-streaming service even as it
suffered from early design issues and later faced critical reviews
around a push into original content.
Mr. Schusser takes over as Apple Music is poised to surpass
music-streaming rival Spotify Technology SA in the U.S. in paid
subscribers. The music unit has become a key piece of Apple's
strategy to boost its services revenue to more than $40 billion by
2020, a critical part of the company's future as people hold on to
iPhones longer and device sales slow, analysts say.
Mr. Cue told staff that Apple Music has reached more than 40
million paid subscribers, an 11% increase in subscribers since
February.
Mr. Schusser will relocate to the U.S. from London and split
time between Apple Music's offices in Cupertino, Calif., and Culver
City, Calif. He previously oversaw the international launches of
the App Store, iTunes Movies, iTunes TV, iBooks, Apple News and
Apple Podcasts. He also helped create live events like the iTunes
Music Festival, and managed label, studio and publisher
relationships outside the U.S.
Write to Tripp Mickle at Tripp.Mickle@wsj.com
(END) Dow Jones Newswires
April 11, 2018 15:28 ET (19:28 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Apple (NASDAQ:AAPL)
Historical Stock Chart
From Feb 2024 to Mar 2024
Apple (NASDAQ:AAPL)
Historical Stock Chart
From Mar 2023 to Mar 2024