Larry Jackson was a key figure at Apple Music as its global creative director until he left in September 2022.
This week he has unveiled his new venture, Gamma, which has ambitions to buy music catalogues and sign artists, while also exploring films, fashion, merchandise and (inevitably, in 2023) web3 technologies.
There is some disagreement over Apple’s role in all this. Bloomberg’s headline included “Apple’s money” with its piece claiming that Apple has invested in Gamma. Billboard, which interviewed Jackson, also labelled Apple an “investor”.
However, Variety cited some sources saying Apple was “a partner but not an investor”. Update: the press release lists Apple among the companies offering “financial backing” to Gamma, so that’s the official line.
Opinions also vary on how much money Gamma has available: $1bn in equity and debt according to Bloomberg, but “significantly lower” according to some of Variety’s sources.
In any case, Gamma has already begun spending its money: deals with Usher and Rick Ross, and a stake in the catalogue of Death Row Records, brokered with its new owner Snoop Dogg.
Gamma has also acquired video-monetisation firm Vydia as part of what Jackson has described as a “farm-to-table” strategy to “decrease our dependence on outside sources”.