In order to further cement its position in the global music space, Apple has now reportedly acquired the London based creative services and music startup platoon for an undisclosed amount of firm.
The acquisition of A&R and creative services company Platoon, which was founded in 2016 by the iTune Veteran Denzyl Feigelson and LoveFilm co-founder Saul Klein, is aimed at tapping emerging artists for the Apple Music, Music Business across the globe, reported on yesterday.
“The company worked with the likes of Stateside breakout act Billie Eilish before she signed to Interscope in 2017, in addition to UK stars Stefflon Don and Jorja Smith,” said the report. Feigelson has worked with the Apple for more than 15 years for the artists' relations and live events.
“The Apple deal gives Platoon the backing and resources to accomplish its vision and continue its goal to develop original music and visual content,” the report quoted a Platoon source as saying.
Apple was yet to comment on this. “Apple doesn't usually comment on its acquisitions, stating only that it makes them from time to time and generally doesn't discuss its purpose or plans,” said in a report. The tech giant has also acquired “Asaii” in October, a startup developed music analytics engine for music labels and artists managers.
According to a report in Axios, the deal was now worth nearly $100 Million. Apple has also completed the acquisition of Shazam, one of the world most popular music recognition mobile apps. Shazam has been downloaded by more than 1 Billion times across the globe and users identify songs using the Shazam app over the 20 Million times each year. Apple has made some other acquisition deal as well, like buying beats for $3 Billion in the year 2014 which became the basis for the Apple music.
“The company worked with the likes of Stateside breakout act Billie Eilish before she signed to Interscope in 2017, in addition to UK stars Stefflon Don and Jorja Smith. The former went on to sign a seven-figure deal with Universal/Polydor, while the latter inked a distribution deal with Sony’s The Orchard for her debut album, released in June 2018.”
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