Hip-Hop Taking Leaps into 360 Deals with Mega Media Outlets
First it was Jay-Z with Live Nation. Now 50 Cent is reportedly jumping on board with a reported deal that places him on the Myspace Records (i.e. NewsCorp) roster. The deals are ground breaking.
Music Contracts are looking like Pro Athlete Contracts
Alex Rodriguez goes out and plays night in and night out for the Yankees. Regaurdless if he goes 0-4 with 2 errors or 4-4 with a game winning home run, he leaves the stadium with the same amount of green in his pocket.
To go along with this, fans buy A-Rod jerseys, baseball cards, hats, foam fingers and more. A-Rod never sees a penny from this but it helps Mr. Steinbrener pay the bills and cut his check.
With big name musicians and entrepreneurs in the hip-hop world embracing this model, it opens the door to others that are looking to cash in like the big leaguers.
In Jay-Z’s deal, he is giving up album sales, digital sales, portions of his clothing lines and other endeavors.
50 is reportedly inking his deal to contain a large stake in all aspects of the 50 Cent brand, including music, concerts, books and his label G-Unit Records.
Where does this leave the indie musician?
Back in the minor leagues.
Seriously, indie musicians are generally not in the same league as Jay and 50, but still play a part in the overall scene. What Jay and 50 have on the table is a well rounded suite of products and a track record of success with all of their businesses and not just the music.
As an indie, you need to begin creating your brand and your business. Start building that local and regional following and have them eating ice cream straight from the bucket. This means selling them not only the music, but concert tickets, t-shirts, mailing lists, poetry books, branded soft drinks or alcohol and other other products that add up to your bottom line.
Gone are the days of being the shy musician. Welcome to the era of self and shameless promotion and hawking of goods, services and products.
-Greg Rollett
