For veteran Apple Music executive Larry Jackson, Wednesday’s launch of Gamma was the culmination of an unprecedented amount of financing for a project that aims to change the industry.
Gamma, which is supported by financial backing from Eldridge, Apple and A24, aims to offer the world’s leading artists creative and business services across all artistic and commercial touchpoints.
For Vydia, the Freehold-based media technology company acquired by Gamma last December in a key move, the announcement is confirmation that the decade-old company has been ahead of the curve all along.
So said Vydia co-founder and CEO Roy LaMamma.
“This is a very exciting day for Vydia and all of our employees, as it serves as validation of the mission we began almost 10 years ago,” he told ROI-NJ.
“That mission wasn’t to get a seat at the table, but instead build a new table altogether, outside of the major label system. We wanted to help foster the next generation of artists and the businesses around them, a mission that now arguably has more capital and resources than any of our competitors.”
Vydia empowers creators with a centralized platform for all audio and video distribution, protection, rights management, advanced payments and data tracking. Simply put, it provides best-in-class content distribution and analytics software, company officials said.
Jackson, who co-founded Gamma with veteran music executive Ike Youssef, said Vydia is a great fit for Gamma as it provides new tools for a new direction for the industry.
“The power of intellectual property and creative expression cannot be contained to any one format,” he said. “The artists shaping today’s culture not only create music, but also video, film, podcasts, fashion and more. They shouldn’t have to jump through multiple hoops to express themselves.
“Gamma is built with the flexibility and aptitude that creators need to connect with fans on all formats and across all channels — with transparency and no restriction.”
Terms of the acquisition were not announced — but the importance of it was stressed by Jackson.
“We are a progressive media company powered by the best-in-class content distribution and analytics software by way of our Vydia acquisition,” he said. “And, central to its core, Gamma is an ideas company.”
Gamma operates in distinct but connected business segments: recorded music, visual content, media, creative agency and direct-to-consumer products. Gamma’s capabilities revolve around three pillars — content creation, content distribution and development of the artist-centered business enterprise.
Oliver Schusser, vice president of Apple Music, agrees with the concept.
“We’re excited to see Larry’s vision come to life with Gamma,” he said. “We’re always looking for new ways to support creators, and we can’t wait to see what talent across music, video, podcasts and more dream up.”
All that’s left is to see how Gamma, which already has signed stars such as Snoop Dogg and Usher, will compete with the other major players in the sector.
One thing is certain, none of those other players will have the power of Vydia behind them.