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How Will Jimmy Iovine Fix Online Music? It's 'Magic'

The music exec and Beats Electronics co-founder wants to press "play" on a subscription music site
How Will Jimmy Iovine Fix Online Music? It's 'Magic'
Photograph by Kevin Mazur/WireImage/Getty Images

For a couple of weeks, rumors have swirled that Beats Electronics, the headphone maker, will acquire MOG, a music subscription service similar to Spotify (except without all the users). While Jimmy Iovine, the chairman of Interscope Geffen A&M Records and a Beats co-founder, declines to confirm the rumors, he’s clearly ready to try his hand at the music subscription game.

“We are looking at this area,” Iovine says. “Right now, subscription music online is culturally inadequate. It needs feel. It needs culture. What Apple has in the downloading world is very, very good. But subscription has an enormous hole in it, and it’s not satisfying right now.”