In a recent interview with DJ Akademiks, Money Man discusses his experience in the music industry and his decision to buy himself out of a contract with Cash Money. The rapper explains that he initially signed with Cash Money because his lawyer advised him to do so, but he soon realized that he didn’t need a major label to achieve success.
From a young age, Money Man said he knew he had talent and a passion for rap. However, he lacked the financial resources to promote himself and market his music effectively. After discovering a financial opportunity, he made a significant amount of money and quickly invested $250,000 in promo.
With his newfound visibility, Money Man revealed he started booking shows independently and gaining millions of plays on platforms like YouTube. He succeeded in creating a buzz without relying on radio play or major-label support.
However, Money Man eventually signed with Cash Money after his lawyer connected him with the label. He thought that having rappers like Drake, Lil Wayne, and Nicki Minaj on his side would propel him to greater heights. Despite receiving an advance, he soon realized that he preferred to remain independent and in control of his own finances.
The rapper explains that major labels like Cash Money come with a lot of accounting and complex contracts. The artist would rather maintain control over his money and not have to rely on lawyers to understand his contracts.
In the end, Money Man called up Cash Money’s co-CEO, Birdman, and explained that he wanted to go back to being independent. He realized that he didn’t need a major label to achieve success and didn’t want to deal with the obligations that came with it.
In hindsight, Money Man acknowledges that major labels can be a finessed loan, requiring artists to pay back a significant portion of their earnings. By remaining independent, rappers can stay in control and avoid being drained financially.
Source: Youtube
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