They still haven’t paid songwriters…
The traditional music business is in danger of being hit by a ‘brain drain’ as streaming services raid top executive talent.
The latest high-profile figure to cross the divide is former Def Jam and Warner boss Lyor Cohen, whose appointment at YouTube has set industry tongues wagging worldwide.
He’s not the only one: we hear Troy Carter at Spotify has just swooped for his former Atom Factory management colleague Sam Berger.
The smart money is on at least one of these vacancies being filled by a senior figure from a record company. Any guesses?
When you scan back over the past few years, a very definite pattern becomes clear: a long line of senior label execs have been poached by the likes of Spotify, Apple Musicand YouTube – and it’s a trend which is increasing in intensity.
Here, MBW presents a extensive run-down of who’s gone where.
It’s a list which poses two key questions:
(i) How worse off is the ‘traditional’ music rights business due to the loss of this executive talent to ‘the other side’?; and (ii) Who’ll be next…?