“Tim Cook brought Jimmy Iovine, Dr. Dre and Ian Rogers into the fold for a reason,” Rocco Pendola writes for Seeking Alpha. “I reckon Apple is about to do something big, something like start, even if informally, a modern day record label.”

“Ahead of the U2 appearance, I speculated Apple might be keen on creating a record label for the 21st Century. It appears – at least with U2 – they’re headed in something like that direction. Bono said it himself – he, his band, his people and Apple have plans,” Pendola writes. “By taking over – or at least promoting and facilitating – all parts of the process for (select) recording artists, Apple has a multi-billion dollar business on its hands, one it can integrate with its existing businesses to drive additional revenue there.”

“We know Ian Rogers runs and will run iTunes Radio and whatever becomes of Beats Music for Apple,” Pendola writes. “But where do Iovine and Dre fit in? Without big plans to upend the music industrial complex they really don’t have a meaningful place. At least not one worth the $3 billion it cost to acquire them and their headphones company.”

Read more in the full article here.

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Apple to shut down Beats Music, sources say – September 22, 2014
U2’s Bono talks 885 million iTunes accounts, new music format, and ‘haters’ – September 22, 2014