Jimmy Iovine, producer, former chairman of Interscope, talent svengali and current Apple employee, has been named to the board of Live Nation, the country’s largest concert promoter (with revenues hitting $2.5 billion last quarter), the company has announced.
The appointment comes on the heels of another notable move by the company — teaming up with youth-oriented marketing and media brand Vice. As well, the company recently acquired a majority stake in C3, the promoter behind Lollapalooza and the Austin City Limits festivals.
“[Iovine] has been at the forefront of innovation in the entertainment industry for decades, and as an entrepreneur, he has combined business inventiveness and marketing prowess with a deep understanding of the music fan to develop and deliver some of the most sought after artist-oriented consumer products and experiences,” said Michael Rapino, president and chief executive officer of Live Nation, in a statement.
Recently, Iovine said of Beats By Dre’s coveted status among NFL players, that “you can’t buy what we got.” With its dominating market share, Live Nation doesn’t need to buy what Iovine’s got — but hey, it’s worth a shot anyways.