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Spotify CEO: Apple's Beats Deal Was More About Iovine and Dre Than Streaming

Jason Del Rey has been a business journalist for 15 years and has covered Amazon, Walmart, and the e-commerce industry for the last decade. He is a senior correspondent at Vox.

“They acquired Jimmy and they acquired Dre and are turning Apple … into more of a lifestyle business.”

— Spotify CEO Daniel Ek, responding to a question at Fortune’s Brainstorm Tech conference on why he thinks Apple bought Beats Electronics and Beats Music.

This article originally appeared on Recode.net.