Jimmy Iovine: The Interscope Empire

Many executives in the music industry start their careers as record producers.  Interscope-Geffen-A&M Chairman Jimmy Iovine did just that, and his track record with major stars is exceptional.  This year the Grammy Awards presented to him the Academy Presidents Merit Award for 2012, the highest honor awarded to producers and engineers at the Grammys, and he still has big plans for the future.

According to Artist House Music, Jimmy began his career as a recording engineer in the 1970’s for classic albums such as Bruce Springsteen’s “Born to Run.”  His skill at capturing artists’ sounds led to a job as a producer in the 1980’s, and he was influential in the development of acts such as U2, Tom Petty and Stevie Nicks. Albums such as “Damn the Torpedoes” “Rock A Little” and “Rattle and Hum” were all created under Jimmy’s guidance.  His presence during the 1980’s helped protect the classic rock ‘n roll sound in popular music, which at the time was leaning increasingly toward electronic influences.  During the ‘80’s he also worked with Bob Seger, Dire Straits and Patti Smith.

Jimmy’s career continued to flourish in the 1990’s when he co-founded Interscope Records.  At the end of the decade he signed Rapper Eminem in a joint venture with Rapper/Producer Dr. Dre’s Aftermath Records, a subsidiary of Interscope-Geffen-A&M.  According to About.com, Jimmy was responsible for giving Eminem’s demo tape to Dr. Dre, which launched one of the most successful careers in hip-hop.

Jimmy went on to co-produce Eminem’s semi-autobiographical film 8 Mile about a young white rapper from Detroit, Eminem’s hometown.  This led to a lucrative deal between Interscope-Geffen-A&M and Paramount Pictures/MTV Films to produce other movies in the future. However, the ‘90’s also brought many other eclectic tastes to Jimmy’s label.  Diverse sounds like R&B Singer Mary J. Blige, Alternative Rockers No Doubt and Industrial Group Nine Inch Nails have become some of the labels’ most profitable names. Following the ‘90’s, Interscope-Geffen-A&M became exponentially profitable, and Jimmy signed other huge names to the label, including Pop Superstars Lady Gaga, LMFAO and The Black Eyed Peas.

Recently Jimmy lent his talents to the hit TV show American Idol’s tenth season, which featured him as a “guest mentor,” according to the show’s website.  Other guests included Pop Star Jennifer Lopez and Rock Legend Steven Tyler, along with longtime show regulars Randy Jackson and Ryan Seacrest.  Jimmy’s appearance helped promote the Interscope-Geffen-A&M group and expand the label’s audience. According to Billboard, this is not the only entrepreneurial enterprise Jimmy has attempted.  He partnered with Dr. Dre to create the Beats by Dr. Dre headphone brand back in 2008, and today the headphones are one of the most popular high-end electronic devices.  According to Engadget, last year the Beats by Dr. Dre brand’s controlling shares of stock were sold to HTC Electronics.  Computer World reports that the deal came with an estimated $300 million price tag, but Jimmy and Dr. Dre will maintain creative control over the device’s future products.

If I were a betting man, I would say that Jimmy Iovine is one of the top contenders for Chairman of Universal Music Group once current Chairman Lucian Grainge retires.  His track record for finding talent is spectacular, and anyone he signs almost instantly becomes a star. His Academy Presidents Merit Award is proof of this, and people in Universal and the rest of the music industry will be keeping an eye on this cultural magnate.  Jimmy’s influence will surely continue to shape popular entertainment for years to come.

- Taylor Burns