Lyor Cohen Leaving 300 Entertainment to Join Youtube

Lyor Cohen

Nearly three years after launching his boutique operation 300 Entertainment, and snatching up talent like Fetty Wap, Young Thug and Migos, Lyor Cohen is moving on...

He's leaving to join Youtube, as the Global Head of Music, with his main goal being to attempt to negotiate streaming rights with record labels and further develop the Youtube Music division -- Google's streaming service competing with Spotify, Apple Music and TIDAL.

"As we enter the growth era of the music industry, Lyor is in a position to make a tremendous difference in accelerating that growth in a fair way for everyone," said YouTube's Chief Business Officer Robert Kyncl in a statement.

In a letter to Youtube employees, Cohen said he will continue running 300 up until December, before fully transitioning over. Read his statement below:

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.

Can Cohen help mend relationships between Youtube and major labels? That remains unclear.

Lyor is an industry legend, who helped build Def Jam, before leaving to become CEO at Warner Music Group, and later, departing to launch his 300 Entertainment.