Apple Buys Music Startup Platoon
Dow 30 component Apple (AAPL) revolutionized personal technology with the introduction of the Macintosh in 1984. Today Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch and Apple TV. Apple’s four software platforms — iOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to “leaving the world better than they found it.”
Music Business Worldwide reported that Apple recently purchased a music startup company called Platoon which seeks to find and develop musical talents. Platoon employs about a dozen workers and the company works with artists who are currently under the radar with funding, distribution, and marketing. These unsigned artists often face challenges with finding the money to record and edit their work. Platoon seeks to solve this problem by finding artists it thinks have the potential to make it on the big stage and helping them get discovered by providing funds and services.
The purchase is likely a push by Apple to find artists that will be exclusive to Apple Music. This news comes in the light as iPhone sales have reportedly tapered lately, the tech giant is looking for ways to promote its other ventures.
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