LOS ANGELES (HYPEBOT) — Veteran music industry mogul and manager Irving Azoff has called “FICTION” the recent statements by YouTube’s Head of Music Lyor Cohen that the video streamer will make musicians “rich and famous” and cited a contradictory analysis by Manatt, Phelps & Phillips, LLP.
After YouTube’s Head Of Music Lyor Cohen told AdAge that his sales pitch for skeptical artists, managers and labels is “We’re going to make you rich and famous,” manager Irving Azoff took to Twitter to declare the promise “FICTION: You didn’t get rich from $.001 per stream.” Azoff cited an analysis by Manatt, Phelps & Phillips, LLP. [Read the full study here.]
FICTION: You didn’t get rich from $.001 per stream. https://t.co/Ps8XsBJde7
FACT: The fair rate is paid by Apple and Spotify. Just ask Jordan: https://t.co/jaUv99Dt43
— Irving Azoff (@irvingazoff) January 5, 2018