Music streaming services are popular and it is the right time for companies to give their business a push. Apple has done just that with its latest acquisition according to the latest reports. The iPhone maker has acquired a British startup Platoon that works with upcoming musicians. No official confirmation has been given regarding the deal by both the companies.
Official confirmation from Apple is awaited because there are instances where the deal does not involve complete acquisitions. Rather the Cupertino Company hires people of that firm, which was the case with the acquisition of Asaii. This deal looks like a complete acquisition as Apple eye’s for a lion’s share in the music streaming industry.
Platoon will continue its support to upcoming artists through its platform to distribute their music. This time around they will have Apple’s backing as well. There will be no restrictions on the artists and they will be free to sign for any music distributor. Platoon will still be led by its founder Denzyl Feigelson, a former Apple employee.
Feigelson has been in the music streaming industry for a long time and has worked as an executive at iTunes. He has also been an advisor to Apple’s live event and its Music app. The acquisition will help Platoon to discover more upcoming artists including writers. The company will look out for new ways to market the content that is being created by the artists with the help of modern day technology.
Artists will get support from Platoon in terms of tour support, social media marketing, global expansion strategies, and original content help. Platoon in the past has worked with Stefflon Don, Jorja Smith, and Billie Eilish. The acquisition will help Apple to continue discovering original content for its Apple Music and compete against Amazon Music and Spotify.
The 12-member team of Platoon will continue to work in the London headquarters which has two recording studios.