In a major move within the music industry, gamma, a provider of technology solutions for the media and entertainment industry, announced back in December 2022 its acquisition of Vydia, a New Jersey-based music and video distribution platform.
The deal, which was completed for an undisclosed sum, is set to strengthen Gamma’s position in the industry and expand its services to a wider audience.
During the past week, it was rumored that Vydia was founded by Afrobeats singer and music business mogul Oluwatosin Ajibade popularly known as ‘Mr Eazi’, and had made a profit of $1 billion from the buyout.
However, it has been debunked that Mr Eazy does not own Vydia instead his company Zagadat Capital partnered with Vydia. Vydia has also worked with the likes of Akon, and Kanye West.
Who are Vydia and Gamma
Vydia, founded in 2013, has become a popular platform for independent artists, labels, and managers to distribute and monetize their music and video content across major music streaming services and social media platforms.
With offices in New Jersey, Los Angeles, and Bangalore, Vydia has been growing rapidly over the past few years, and the acquisition by Gamma is expected to take the company’s growth to the next level.
Gamma is a modern media and music company created to revolutionize the way artists create, distribute, and monetize their content and brand. The firm 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.
According to reports, gamma’s financial backers are as illustrious as they come, including Todd Boehly’s Eldridge Industries, Jackson’s old company Apple, and A24.
Headquartered in Los Angeles, with offices in New York and London, gamma has recently struck partnerships with Snoop Dogg and the Death Row catalog, Rick Ross, Naomi Campbell, and The Shade Room.
The company has also hired a string of well-known music industry figures for its leadership team, including Ike Youssef, Co-Founder and President; Ben Cook, gamma’s President of UK and Europe; Scott Seviour gamma’s Chief Marketing Officer; Nathalie Besharat EVP of Content Operations; and Breyon Prescott EVP of Content and Music.
Roy LaManna becomes the firm’s Chief Technology and Product Officer, with Jackson as co-founder and CEO.
In addition, Tony Minella, Eldridge, Co-Founder and President, and Daniel Katz, Co-Founder and Partner, A24, were reported to join Gamma’s board, while Bill McDermott, CEO, Service Now, and Joseph Calabrese, Former Global Chair/Entertainment, Sports and Media Practice at Latham & Watkins, will serve as senior advisors.
(BusinessDay)
