Lyor Cohen

GLOBAL HEAD OF MUSIC, YOUTUBE

As Cohen describes it, the role he has played at YouTube since joining the company in 2016 is straightforward: “I evangelize music and explain the opportunity” — both inside the company and to the music industry. Initially, that meant launching YouTube’s music subscription service and helping to shift the company’s reputation from a recalcitrant obstacle to a helpful and willing partner of the music business. Now, with over 50 million global subscribers to its music service, YouTube has its sights set on becoming the music industry’s single biggest revenue source by 2025. From April 2020 to March 2021, YouTube paid roughly $4 billion to creators and rights holders, more than half of the estimated $7 billion Spotify spent on content costs — including podcasts. To achieve its goal, YouTube must become equally strong at promoting music and paying royalties, says Cohen. “Fame without fortune sucks,” he says, “and fortune without fame ... it all has to knit together.” To appeal to creators, YouTube made substantial investments in new products such as its shortform video platform, YouTube Shorts, “the biggest priority of the company,” he says, and which will compete with TikTok and Instagram’s Reels. Cohen, whose four-decade career has included stints as Run-D.M.C.’s road manager and as chairman/CEO of recorded music at Warner Music Group, remains optimistic about the future, noting, “The entire opportunity for an artist and a song lies at YouTube.”

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