Apple is backing a music startup launched by one of its former executives that positions itself as an alternative to traditional record labels.
The company, called Gamma, was conceived by former Apple Music Global Creative Director Larry Jackson and veteran music executive Ike Youssef.
Gamma says it will support content creation — whether that is music, video or podcasts, and provide audio and video distribution through Vydia, a company it acquired in December 2022.
Early projects will include work with Snoop Dogg and his Death Row catalog, Rick Ross, and Naomi Campbell, Gamma said. It also plans to collaborate with Todd Boehly’s Eldridge, whose investments include the Los Angeles Dodgers, which is a major backer.
The independent studio A24 is among the start-up’s investors. Gamma declined to comment on a published report that it has access to about $1 billion in capital.
MacDailyNews Take: Oliver Schusser, Apple’s Vice President of Apple Music, said in a statement, “We’re excited to see Larry’s vision come to life with gamma. We’re always looking for new ways to support creators, and we can’t wait to see what talent across music, video, podcasts, and more dream up.”
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