Its actually a fake budget used to show movement on the financial ledgers that is then added to Interscope's books which are then forwarded to UMG's top brass so they can forcast overall budget allocations for the next fiscal year.
So in reality its a CAP POTENTIAL of $1.5 million because the label is not obligated to spend the entire 1.5 on MGK, they just have to show on paper the probable intent to do so and if they do best believe Diddy, Jimmy and the rest of the gang done pocketed a significant portion themselves but still has MGK on the hook for the whole pie as far as recouping. His actual signing bonus was probably in the 60-90K range and that's before breaking off the lawyer, management and any other 3rd party discovery fees.
Music Industry Gold Right Here, of course aint nobody gonna care.
---------- Post added 07-22-2012 at 07:53 AM ---------- Previous post was 07-21-2012 at 06:50 AM ----------
Curren$y on the rap game: 'A lot of it you can do yourself'
Survivor is one of the few words one could use to describe New Orleans rapper Curren$y. With a over a decade in the business, grappling with flawed record deals that would discourage most emcees, Spitta has thrived.
Originally affiliated with Master P’s No Limit Camp as a teen, he then moved to the rival camp Cash Money/Young Money. Along with Lil Wayne, Curren$y began to develop his following as he was featured on numerous Weezy projects which culminated to his first single “Where Da Cash At?”. After some creative differences with Weezy and Birdman, Curren$y left Cash Money to pursue a solo career in 2007.
[video]http://thegrio.com/2012/07/20/curreny-on-the-rap-game-a-lot-of-it-you-can-do-yourself/#48248963[/video] ----- VIDEO
---------- Post added at 08:01 AM ---------- Previous post was at 07:53 AM ----------
Chief Keef's Interscope Records: The Real Gangsters of Gangsta
Gangsters like Iovine and Warner Music Group’s Lyor Cohen are rarely mentioned or talked about. They have been pushing raps buttons for over twenty years and have gone almost unnoticed.
It’s one thing for the kid to make his bad music and it stays secluded just to Chicago. No one can stop someone from making music, but it wouldn’t go too far with out Iovine’s marketing/media money and power. Because there’s absolutely nothing special or star quality about Chief Keef. Now it’s going all over the country and Iovine’s continuing to pollute the black community.
When Interscope signed Keef, Iovine probably never even came down for the meeting. That’s because Iovine knows the boy is going to fail and be broke within a year. He didn’t want to waste his time. Jimmy has the power and pushed the button to sign him because he knows he can make money off of the kid’s newfound attention.
“They was talkin’ good to me,” he said of Interscope to MTV News. “I agreed to what they was talkin’ about. They was talkin’ like I was talkin’ and I liked that. All these other labels, I was talkin’ to ‘em, but it’s time anyway for me and I’m goin’ with Interscope.”
He can’t even form a complete sentence. Probably didn’t even read his contract.
But don’t expect urban youth’s most influential; Kanye, Diddy, Wayne, Baby or Jay-Z to rally or speak up against the culture killers like this because they are all too ready to collect big dirty corporate checks. Don’t expect sites like Russell Simmon’s Global Grind, or so called music journalists (radio, print or television) to point fingers at this mess because they too have exchanged freedom of speech for pay checks and perks.
The truth is that the same excuse these niggas are using is getting too old and just doesn’t add up.
Short money is the mantra of Hip Hop. One hit wonders with a select chosen few that reach deep pocket status and influence stay at the top, but remain silent on issues that really matter. If you don’t buck the system the system keeps your palms greased.
Russell Simmons and rap critics will say that Hip Hop is merely art. And the violent portrayals and messages that are pumped into impressionable young brains have no affect. I say it’s all bullshit. The millions of dollars of advertising money that book end hellacious hip radio sets nationwide are there because they sell their product and image.
Gangsta Hip Hop is no different. So the next time you hear or see another gangsta-*****-I’ma-kill-you anthem, it’s not a black, juvenile offender like Chief Keef – because he has no power in this country – remember that the real gangsters who truly profit are wealthy corporate executives named Jimmy Iovine and Lyor Cohen.
Chief Keef’s Interscope Records: The Real Gangsters of Gangsta Rap | RapRehab
