Iovine serves as an independent director of the board, and will help Live Nation as it seeks new ways to attract and engage live music fans.
The appointment comes as Live Nation recently paired up with Vice Media to launch a new entertainment destination for music programming that’s set to debut in early 2015.
In May, Apple bought Beats Electronics, the headphone and music streaming company that Iovine created with Dr. Dre in 2006.
Iovine, who has an undisclosed senior role at Apple as a result of the $3 billion purchase of Beats, long ago cemented his place in the music biz as an entrepreneur: In 1990 he co-founded Interscope Records, which later became Interscope Geffen A&M after a merger in 1999.
“Jimmy is an extraordinarily gifted arbiter of culture who understands brands and creating compelling new products and services. He will add an important voice to our board of directors as we look to continue to accelerate Live Nation’s growth plans,” said Greg Maffei, chairman of the Live Nation board of directors.
Michael Rapino, president and CEO of Live Nation, said Iovine “has been at the forefront of innovation in the entertainment industry for decades, and as an entrepreneur, he has combined business inventiveness and marketing prowess with a deep understanding of the music fan to develop and deliver some of the most sought after artist-oriented consumer products and experiences.”
Meanwhile, Iovine, said Live Nation, which also owns Ticket Master, “has put together the right management team and incredible assets to really be effective in the new music economy.”