Apple has widened music presence by purchasing a small music tech start-up that discovers new and upcoming artists.
Founded by former Skype executive Saul Klein and Denzyl Feigelson, Platoon helps fund and distribute independent musician content across channels they usually would not encounter. The terms of the deal between the two companies were not disclosed, reported CNBC.
Artists who share their content with Platoon could help Apple stand out from its competitors like Spotify, who both rely heavily on subscriptions from its users. Apple would find and develop these artists to become exclusive artists for Apple Music.
Platoon gives access to artists who do not have the platform to share their music with bigger audiences. With its services, the company gives musicians studio and social media tools to be discovered by more labels who are looking to sign new artists. Teen musician Billie Eilish emerged quickly through the music platform.
Apple’s last biggest purchase was in May 2014 when it acquired Beats Electronics for $3 billion.
