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Published 15:05 3 Jul 2018 BST
Updated 15:16 3 Jul 2018 BST

Lyor Cohen speaks onstage during the YouTube session at the Cannes Lions Festival 2018.[/caption]
One of the most respected moguls in music, who is often heralded by big names such as JAY-Z, DMX, Kanye West, Bruno Mars and Ed Sheeran, he has had his hand in some of the biggest deals in music and actually worked closely with YouTube in signing its first record licensing deal back in 2006.
So with that type of clout I wouldn’t expect anything else but visionary-type steps from both Cohen and YouTube.
So why did it take so long to happen if audio streaming was introduced to chart data in 2014?
Originally considered four years ago when YouTube was the only platform offering a full video service, apparently it has a lot to do with their royalty splits and the length of which a video was watched before it counted towards a sale. While he declined to discuss the specifics, Martin Talbot, the charts’ Chief Executive, told the BBC: “I can’t really go into the details of specific services but any concerns we might previously have had, have been dealt with and sorted out.”
There was probably also a cause for concern after what happened on the Billboard chart last year when Post Malone and 21 Savage’s “Rockstar” went to number one in October 2017 after a video of the song’s chorus on loop was uploaded by Post’s label, Republic Records. The video garnered over 41 million views - talk about a hack of the highest level.
https://youtu.be/UceaB4D0jpo
It’s also worth noting that if you pay for your YouTube subscription - something that was introduced in May of this year - or any streaming subscription, then you’ll be helping the artist you’re listening to get up the charts even quicker.
A separate tweak to the chart formula will see paid music streams carrying more weight than free ones. Currently every 150 streams of a song results in one sale. However, from June 29th the ratio dropped to 100:1 for premium subscription users and shot up to 600:1 for those with a free subscription.
The change will benefit artists who restrict access to their songs on the free versions of Spotify and YouTube.
Another thing to note: while music video streams count towards single sales in the UK, unlike America’s Billboard chart these streams will not count towards album sales - for the moment at least.
Aside from knowing that this was going to happen (and feeling pretty smug about it), I’m actually really excited that music video streams now count towards music sales.
I grew up in an era where music videos counted for something. Money was spent on them. The artistic direction they took often blew my mind. Do you remember MC Hammer’s 15 minute “2 Legit 2 Quit” video? It cost $2.4million to make. What about Puff Daddy’s “Victory” video? It was a live-action movie starring Dennis Hopper that cost $2.7million to make. Then there’s Michael Jackson and Janet Jackson’s “Scream”. IT COST $7MILLION TO MAKE!
https://youtu.be/0P4A1K4lXDo
The fact that music videos now count towards something tangible like a record sale, not only will it spark creativity amongst artists once again but record labels might start investing in the production of them.
I can’t wait. Creativity can once again reign supreme.
Here’s a list of the most watched videos in the UK to date:
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