Jimmy Iovine, the entertainment mogul who has been the face of Apple Music, is stepping away from the daily grind.
Iovine — a 65-year-old producer who has made records with the likes of U2 and Stevie Nicks — is shifting to a consulting role at the company in August to “spend more time with his family,” a source told The Post.
Apple declined to comment.
Rumors of Iovine’s move have been swirling for the past three months but to date they have been denied by the executive.
Iovine joined Apple in 2014 when Beats Electronics LLC, the company he co-founded with Dr. Dre and Nine Inch Nails frontman Trent Reznor, was bought for $3 billion.
Despite reports, sources close to Iovine insisted the move is not linked to the Apple shares he received in the Beats deal, which fully vest in August.
During his Apple tenure, Iovine helped the Cupertino, Calif., company develop Apple Music.
He also helped to expand Apple’s original video programming, which includes “Carpool Karaoke” and “Planet of the Apps.”
As part of his consulting gig, Iovine will continue to work on video, as well as Beats, and he will help to continue to differentiate Apple Music from rivals such as Spotify and Amazon Music. He will work with Apple Senior Vice President Eddy Cue when needed, an insider said.
The former music producer, who co-founded Interscope Records, also will continue to help scoop up exclusive content deals for the streaming service as the race between Apple Music and Spotify heats up.
Although 10-year-old Spotify has a massive 71 million paying subscribers, Apple Music, which is 3 years old, is growing at a fast clip, with 38 million paid subscribers as of last month.
Five weeks earlier, Apple had 36 million subscribers, which translates to growth of about 1.6 million a month.