A former Apple Music executive has announced the launch of a new content creation company called Gamma, which already has Usher and Rick Ross on its roster.
Apple itself is reportedly backing the multiplatform company, although a report from Variety cites sources that say that Apple is a partner rather than an investor. Other backers include Todd Boehly’s Eldridge Industries and indie film studio A24, and Gamma is said to have as much as $1 billion in capital.
Former Apple Music global creative director Larry Jackson co-founded Gamma with former Interscope CFO Ike Youssef after the former left Apple in September.
They see Gamma as an alternative to record labels that will support content creation and provide audio and video distribution through Vydia, a company it acquired in December 2022.
Jackson has extensive relationships in the music industry to help achieve that vision. According to to reports, he has longstanding relationships with artists such as Drake, Nicki Minaj, Lil Wayne, Kanye West, among others.
So far, Gamma already has Usher and Rick Ross on its roster and owns a stake in a stake in the Death Row catalog acquired by Snoop Dogg late last year, according to Billboard.
"The artists shaping today's culture not only create music, but also video, film, podcasts, fashion, and more," Jackson said in a statement Wednesday. "They shouldn't have to jump through multiple hoops to express themselves."
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