In what seem to be a surprising move, CEO of 300 Entertainment Lyon Cohen is leaving the company that he founded and built into a power label to go for his parent company,YouTube. Google which owns Youtube are investors in 300 ENT and have asked for Cohen help to comepete with Apple Music, Spotify and Tidal in the streaming wars.
Cohen who left Def Jam to build his own brand, has done a great job in doing so. Signing such acts as Fetty Wap, Young Thug and Migos just to name a few.
In a letter to YouTube’s music team, Cohen laid out a three point plan for his new position, addressing both the challenges and opportunities YouTube faces moving forward:
First, helping the music community embrace the technological shifts we’re seeing in music today so we can help take the confusion and distrust out of the equation.
Second, building on the great work you all have done to help the music industry and creative community break new songs and artists to YouTube’s audience of over 1 billion fans. From building on the success of the YouTube Music app, to shining a light on emerging artists, I believe our potential to strengthen the industry is massive.
And third, I hope that together we can move towards a more collaborative relationship between the music industry and the technologies that are shaping the future of the business.
Will it be enough for YouTube to keep up with the other streaming services? Time will tell.