Google to Sink Rumored $5 Million Into Ex-Warner Music Head’s New Venture
Google may be getting into the music business, the New York Post reports. According to the Post, Google will invest in the new music venture of former Warner Music head Lyor Cohen.
The investment, which is rumored to be around $5 million, is reportedly Google’s first big step towards being an integral part of the music industry. Of course, this may seem like a strange call as Google’s company YouTube is already the most popular free music platform in the world.
Google also recently announced a Spotify-like YouTube music service, which is expected to roll out sometime this year.
While the investment in Cohen’s budding music venture doesn’t completely add up at face value, Google’s involvement could suggest that it wants to get good with the former Warner Music boss at any cost. Of course, Google can easily do that without a $5 million investment — it did already with the plethora of music labels onboard its All Access music service.
Cohen, who recently brought in former Warner Bros. Records chief Todd Moskowitz, has remained tight-lipped about the entire venture. However, Cohen is royalty among the music industry. The ex-Warner head started Def Jam Records and has close ties with Jay-Z, Russell Simmons, and Rick Ross, whom he also manages. Whatever Cohen has planned, it’s big, and it seems Google is coming along for the ride.Tags: google, Lyor Cohen, Todd Moskowitz, warner music, youtube