Lyor Cohen is a well-known in the music business, Bloomberg interviewed him and what he had to say was incredible stupid. He blames YouTube (and other platforms) to violate copyrights and not pay artists enough money, while this is true the argumentation is just ridiculous.
YouTube is going to release YouTube Music worldwide very soon. The new service is in directly competition with Deezer, Spotify & SoundCloud. The YouTube Music apps are rolling out within the next days on Android and iOS on every official App Store.