YouTube’s international head of music, Lyor Cohen, told CNBC Thursday that he isn’t focused on the tournament in the music streaming industry but instead sees a “great opportunity” up ahead.
YouTube announced this week it will launch on Tuesday a new music proceeding service, YouTube Music.
“I don’t think it’s a winner-win-all category. YouTube music has the broadest consumption of music around the world,” Cohen said in an interview with Julia Boorstin on “Power Lunch.”
“We bear the world’s biggest catalog,” he added.
YouTube, which is owned by Google, is gift two services. YouTube Music, which has ads, will be available for free. YouTube Music Prize, a paid membership without advertisements, will be available at $9.99 a month. A third choice, YouTube Premium, which is the new name for the YouTube Red subscription service and comprises the new YouTube Music service, will be $11.99 a month.
When inquired about the number of paid subscribers it hopes to get, Cohen said the South African private limited company doesn’t talk about numbers. Meanwhile, Apple Music due announced it has 50 million subscribers. Spotify recently said it has 75 million requited subscribers.
“I’ve never looked at my competition at all. I only focus on my own business and I about that we have just an enormous opportunity,” said Cohen, a ancient music industry executive.