Music executive Lyor Cohen is said to run the new music label being funded by Google. In the past Lyor Cohen ran the recorded music division for the Warner Music Group and before that he played a huge role in building up the legendary label Def Jam. The money required to start up a music label is a lot, unless of course you are Google. The financial investment necessary for this venture is practically pocket change for the marketing giant Google.
Youtube is of course owned by Google and has been since 2006. That being said, Google is trying to get into the market of streaming music which would automatically make it a big competitor for names like Spotify and Pandora. This Google brand music streaming service plans to have a free version and an upgraded version with additional features similar to Spotify’s paid customer set up.
This shouldn’t come as much a surprise considering all the different avenues Google has put money into such as Vevo, Machinima and more than 150 channels on Youtube in an attempt to help keep quality videos in production. The strategy from Google funding Youtube channels is to make the website feel more TV-like since these strong channels will keep putting out videos, some to a more seriously considering they are making real money out of the concept.
Next month marks the beginning of the very first Youtube Music Awards which will be easy enough to attend considering the event will be all over Youtube. Google is not lightly stepping into the music side of the internet, they are clearly jumping in, hoping for a takeover. Spotify and other similar music streaming services will no doubt suffer some sort of a decline unless Google’s attempts to take their customers fail, which is unlikely considering the power of Google.
If Google already has one of the largest free music streaming services (Youtube) it might bring into question why they are investing in a music label. Youtube isn’t going to be overturned by something like a music label, if anything this plays more into the part of Google becoming ubiquitous, it is everywhere, in the creation of music, in the streaming of music, and in the awards of music. Google has seen so much success and is known by so many that being in a few more places won’t surprise anyone, most probably won’t even notice that Google is behind this new label Lyor Cohen will be representing.
Youtube representatives wouldn’t give too much information although they did say, “we’re always working on new and better ways for people to enjoy YouTube content across all screens, and on giving partners more opportunities to reach their fans.” Will this new service cause an upset in the world of streaming music? Will the newly invested music label influence the world of music? Lyor Cohen has been behind some incredibly popular music acts including Bruno Mars, lets see what he can do with Google backing him up.
Written By: Garrett Jutte