Just as Apple is making a push into original video content, it may be planning to release new music. The company has acquired Platoon, a London-based startup that works with musicians to produce, distribute and sell their work, TechCrunch reports.
Platoon’s CEO and cofounder, Denzyl Feigelson, has had a long history with Apple. He had been involved with iTunes since the very beginning in the early 2000s and was the head of Apple’s music festival, iTunes Festival. Finding its own artists would allow Apple to go around the major record labels, which charge heavily for streaming rights. But music, like video, is a high-cost, high-risk business. For every hit, there’s lots of duds. The question is how far will Apple go in original content, a low-margin business whose impact on hardware sales is tough to quantify.