NEW YORK, NEW YORK - APRIL 06: Larry Jackson attends the Clive Davis 90th Birthday Celebration at Casa Cipriani on April 06, 2022 in New York City. (Photo by Jamie McCarthy/Getty Images)
Coming off the high of wins from Black History Month, these heavy hitters are bringing a new definition to black excellence!
On March 8, Billboard announced that former Apple Executive, Larry Jackson, is embarking on a new business venture, Gamma, that will allow major artists and brands to work in tandem with music, films, merchandise, fashion and other areas.
Jackson, who left Apple Music in September, after giving seven years to the company has been keeping quiet about his next move since his transition, but people expected big things to be on his horizon due to his longstanding relationships with some of the top stars of our time, including Kanye West, Nicki Minaj, Lil Wayne and Drake.
Gamma was cofounded by former Interscope CFO, Ike Youssef, and is said to have $1 billion available in equity and debt, according to Variety.
The first artist to join the Gamma roster were Usher & Rick Ross, and according to Billboard, a stake in the Death Row catalog acquired by Snoop Dogg is rumored to be apart of this new endeavor.
Sources have allegedly told Variety that Jackson also has “his sights set on signing Travis Scott, who has one more album left in his contract with Epic Records”, and have their eye out for Dr. Dre’s catalog which recently sold for $200 million.
Gamma focuses on three foundational pillars: content creation, content distribution, and development of the artist-centered business enterprise, which will allow them to stay connected with various segments in the music business.
In December 2022, Larry Jackson acquired the distribution platform, Vydia, and absorbed its employees into his new company. He even struck a podcast deal with our very own founder, Angelica Nwandu.
Billboards began to pop up around Sunset Boulevard in Los Angeles and Times Square in New York hinting that something big was in the works.
Sources even say that Jackson and L.A. Reid, former chairman of Epic Records, Island Def Jam & Arista, are working to acquire the rights to Usher’s final album in his contract with RCA Records for an undisclosed amount and a percentage of the project.
Not many people can pull together $1 billion for a new business and passion project, so you can tell that Mr. Jackson is not playing no games!
Roommates, what kind of business would you create if someone invested $1 billion to get you started?
