This post is for everyone interested in the very cutthroat entertainment industry. One of the benefits of success in the game is, of course, the dolla dolla bill. The chance to buy your mom that house on the hill, to swerve the streets in that new 4 door Bentley Flying Spur, or just knowing that you may not have to financially struggle for the rest of your life anymore. When signing a record contract with a record company (which makes no sense in 2016), please do not think to ask for a ridiculous amount of money upfront.Unless you have a great lawyer and manager that can help you negotiate the BEST deal, make it happen for your situation. I know you’ve heard of 1 million dollar contracts and 500k advances etc. I’ll be the first to tell you:
1. That’s not your money
2. You have to pay that back with interest
3. You are selling your creative control
4. That’s not your money
5. See #1 & #4
But if you don’t believe me, I’ll give you a scenario. This one is about one of my favorite emcees Royce Da 5’9.
Royce made a name in the industry after appearing on “Bad Meets Evil” from Eminem‘s debut Slim Shady LP. Months later, he also wrote for Dr Dre‘s critically acclaimed “Chronic 2001” on the last song titled, “The Message“. Critics and fans considered this one of the best songs on the album. A year prior, Royce was shopping for a record deal and couldn’t get one. Once his name bubbled in the industry , the labels come back calling. Here’s the one decision that changed the outcome of Royce‘s career forever. Dr Dre offered him a 250k budget and unlimited production. Anyone who knows Hip-Hop knows that unlimited Dre beats are synonymous to an all access pass to the heavenly gates. At the same time, sub-label Tommy Boy Records offered Royce a $1 Million deal. At 20 years old, the young Royce saw the money first and signed with Tommy Boy. The label soon folded and Royce was moved over to Columbia records. His debut album, Rock City, stalled and was released in 2001 on independent label Koch Records, making little impact in the game. Until 2007, his career has had ups and downs, label and business wise.
Post 07, Royce has taken his career to the next level, reconciling with Eminem, joining super group Slaughterhouse ,and dropping critically acclaimed albums such as Success is Certain, Street Hop and the 2015 Layers.
Moral: The more money the companies offer you upfront, the more you lose out on the back-end.
Freeze Da 5’9