Apple backs new music startup | – #Apple #backs #music #startup

March 8 (Reuters) – Apple Inc ( AAPL.O ) is backing a music startup launched by one of its former executives.

The former company called Gamma Apple Music is the brainchild of Global Creative Director Larry Jackson and veteran music executive Ike Youssef. It presents itself as an alternative to traditional record labels.

“The artists who shape today’s culture are not only music, but also video, film, podcasts, fashion and more. they create,” Jackson said in a statement Wednesday. “They shouldn’t have to jump through hoops to express themselves.

Gamma says that whether music, video or podcasts, it will support content creation and, through the Vydia company it acquired in December 2022, provide audio and video will provide the broadcast.

Early projects include working with Snoop Dogg and his Death Row catalog Rick Ross and Naomi Campbell, Gamma said. He also plans to partner with Todd Boehly’s Eldridge, a major backer of the Los Angeles Dodgers, among his investments.

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Independent studio A24 is among the startup’s investors. Gamma, about 1 billion dollars declined to comment on the published report that it had access to capital.

Reporting by Dawn Chmielewski in Los Angeles; Edited by Sandra Mahler

Our standards: Thomson Reuters Trust Principles.

2023-03-08 23:42:21
Source – reuters

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