Apple has bought a tech startup which is known as Platoon whose main focus is to find and develop the musical artists. The terms of the deal were not disclosed. The Platoon had about a dozen employees.
The acquisition of Platoon could boost the performance of the Apple’s Up Next platform, which helps in giving resources to talented upcoming musical artists.
This deal is going to help Apple a lot as it would assist in finding and developing talented musical artists for Apple Music, which could help in giving a competition to Spotify. The company is depending on growth in subscription services like Apple Music to offset flattening iPhone sales.
Apple has spent a big amount of money in the music related businesses over the past couple of years, including music identification app Shazam and Asaii, a music analytics company that’s focused on identifying new and emerging artists.
The new artists don’t have enough money to afford studio time or have access to music editing software and many don’t even have any kind of influence over the social media 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.
Let’s see how this acquisition is going to help Apple and the emerging musical artists.