Lyor Cohen to Reveal Strategy of his New Digital-era Venture
Exclusive Midem Insight Into Innovative Google-backed Label
PARIS, Jan. 7, 2014
PARIS, Jan. 7, 2014 /PRNewswire/ --Leading music industry stalwart Lyor Cohen
will give Midem participants an exclusive insight into the strategies he
believes will deliver the next generation of cutting-edge talent to consumers
in an increasingly digital environment.
Founder of Def Jam Records and former head of Warner Music Group, Cohen will
present his new venture, 300, a music content company devoted to the discovery
and development of the artists of the future.
For the first time Cohen will publicly address an audience of music
professionals about his plans for 300, which are sure to inspire the Midem
audience to embrace innovation as a route back to growth.
Backed by Google and other investment funds, Cohen's new venture sets out to
create an innovative artist development structure with greater flexibility and
lower overheads to challenge the majors.
Cohen has been closely involved in hip-hop for more than three decades, as the
genre has moved from the bad boy of pop culture to a mainstream driving force.
He co-founded Def Jam Recordings, which rapidly became one of the leading
record labels of the late 1980s and early 1990s. Cohen subsequently managed
the Island Def Jam Music Group before joining the Warner Music Group where he
rose to Chairman/CEO of Recorded Music, giving him oversight of artists across
all genres including rock and even country and western.
It was during his time at WMG that Cohen began to investigate the financial
possibilities of brokering endorsement deals, linking up some of the artists
in his roster with such iconic brands as Adidas and Coca-Cola. In September
2006, Cohen negotiated the first agreement between YouTube and a major record
company that allowed the site to show videos by WMG artists in exchange for a
share of YouTube's advertising revenue.
In a move which underlines how major online distribution platforms are now
seeking more direct influence on the content business, YouTube's owner Google
is acting as lead investor for 300.
"Lyor Cohen has been one of the most influential industry players over the
past decades, and he is now embarking on an exciting new venture which
promises to push the envelope in terms of artist development and distribution.
We are thrilled he has chosen Midem as a platform to give the music industry a
first look at his vision," said Bruno Crolot, Midem Director.
Cohen will be interviewed by Tom Silverman, Executive Director of the New
Music Seminar and CEO of Tommy Boy, on 2 February at 4pm as part of the
plenary conference programme "Midem Talks," the theme of which this year is
"Back to Growth? Make it Sustainable!"
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