Apple buys Platoon, a start-up that helps indie musicians get discovered – CNBC


Apple is building up its music business with an acquisition of a small tech startup that helps discover and develop emerging musical artists.

div > div.group > p:first-child”>

Apple confirmed to CNBC it purchased Platoon, a company that helps independent artists fund, distribute, and market their content. The news was first reported by Music Business Worldwide. The terms of the deal were not disclosed. Platoon had about a dozen employees.

The deal could help Apple find and develop exclusive artists for Apple Music, helping it stand apart from competitor Spotify. The company is depending on growth in subscription services like Apple Music to offset flattening iPhone sales.

Unsigned artists may find it expensive to buy studio time and have access to music editing software. Many don’t have the range of social media tools and access to data to get their music in front of audiences effectively. Platoon finds artists it believes will make it big, gets them on its service, funds them, and helps them get discovered by the public and bigger labels. In effect, it’s like an indie music label.

Some of acts that have worked with Platoon include Billie Eilish, Stefflon Don, Mr. Eazi and YEBBA.

The company was founded by former Skype executive Saul Klein, who also co-founded LoveFilm, and Denzyl Feigelson. Feigelson is a former music talent manager who founded direct-to-consumer record sales company Artists Without A Label, which focuses on selling music from independent artists. He also has worked with Apple on music projects in the past, including the iTunes Festival.

Apple’s largest acquisition-to-date was in the music space. It acquired Beats Electronics for $3 billion in May 2014.

Let’s block ads! (Why?)


Source link

What's Your Reaction?

Cry Cry
0
Cry
Cute Cute
0
Cute
Damn Damn
0
Damn
Dislike Dislike
0
Dislike
Like Like
0
Like
Lol Lol
0
Lol
Love Love
0
Love
Win Win
0
Win
WTF WTF
0
WTF

Comments 0

Your email address will not be published. Required fields are marked *

You may also like

More From: Technology

DON'T MISS

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format