Lyor Cohen To Leave 300 Entertainment, Signs With YouTube
Lyor Cohen is leaving 300 Entertainment to join YouTube in a new position that will help bolster the music portion and dealings of the network. Cohen becomes YouTube’s Global Head of Music and will work on behalf of the network to secure new streaming deals between record labels and artists.
As reported by Complex, Cohen, who founded and was the CEO of the 300 Entertainment label, will be phasing out of the position by the end of the year. He sill maintains ties to 300 as he was the label’s largest investor. Complex notes that Google, Cohen’s new parent company by way of YouTube, also contributed heavily to the venture. A replacement for Cohen’s position is underway.
Cohen also will be tasked with bringing YouTube Music to the forefront in a crowded streaming marketplace dominated by Spotify, TIDAL, Apple Music and other major players. Although Cohen has earned the reputation as a shrewd but respected business executive, the recording industry has been at odds with YouTube.
This year alone, the RIAA targeted YouTube for not paying out revenue the network has earned by way of streaming music, unlike its competitors. The network is technically the largest streaming service for music available, although it does not enjoy a standalone platform strictly for music like the other sites.