The company, called Gamma, is the brainchild of former Apple
Music Global Creative Director Larry Jackson and veteran music executive Ike
Youssef. It positions itself as an alternative to traditional record labels.
"The artists shaping today's culture not only create
music, but also video, film, podcasts, fashion, and more," Jackson said in
a statement Wednesday. "They shouldn't have to jump through multiple hoops
to express themselves.
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 catalogue, 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.
Meanwhile, Humane, another startup founded by former Apple
employees, said it has raised $100 million and will release its first products
this spring.
The company, founded in 2018 by Imran Chaudhri and Bethany
Bongiorno, has now raised $241 million but has yet to disclose what it is
building, saying only that it is a "software platform and consumer device
built from the ground up for artificial intelligence." © Reuters
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