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Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

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Arts & EntertainmentApple Music

The head of Apple’s Beats 1 radio service just quit

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Geoffrey Smith
Geoffrey Smith
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By
Geoffrey Smith
Geoffrey Smith
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August 28, 2015, 9:32 AM ET
Beats Electronics CES After Party With Axwell And Kendrick Lamar At Light Nightclub
LAS VEGAS, NV - JANUARY 09: (L-R) Recording artist will.i.am, Beats Electronics President Luke Wood, Beats Music CEO Ian Rogers and Beats Electronics Founder Dr. Dre arrive at a Beats by Dr. Dre CES after party at the Light Nightclub at the Mandalay Bay Resort and Casino on January 9, 2014 in Las Vegas, Nevada. (Photo by Ethan Miller/Getty Images for Beats by Dre)Photograph by Ethan Miller — Getty Images
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Ian Rogers, one of the key figures in Apple Inc.’s (AAPL) music streaming strategy, has quit his job as head the Beats 1 radio service less than two months after it launched.

The Financial Times quoted ‘people familiar with the matter’ as saying that Rogers intended to go to work in an unrelated industry for a European-based company. It said Apple confirmed Rogers’ departure but no other details.

Rogers’ departure leaves something of a question mark over the company’s streaming strategy, having been CEO of Beats Music when Apple bought it and Beats Electronics for $3 billion last year.

 

Apple needs to succeed at streaming given how fast it’s replacing the music download business that has been such a phenomenal money-spinner for Apple since it launched iTunes.

But the Cupertino, Ca-based giant is playing catch-up with established players such as Swedish-based Spotify and also faces competition from others trying to carve out a piece of the same market, such as the Tidal service backed by rapper Jay-Zee.

Apple said earlier this month that it had 11 million people sign up for free trials of Apple Music, in the first four weeks since it launched. Spotify, by contrast, boasts over 70 million users of its ad-supported subscription service.

 

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