For better or worse, once you get signed, everything changes even though multi-million dollar deals don’t always add up to fast money for the artist. Still, backing from a major label can add the muscle needed to turn an artist into a star, and ultimately help bring in the bread.
Labels get a lot of flack, but that doesn’t mean they’re unnecessary. And with the music not really boosting its revenue over the last four years, the race to pluck out new talent shouldn’t slow down. The contracts have gotten smaller though.
Recently a 15-year-old rapper who got big on the Internet signed $1 million five-album deal with Warner/Chappel. Not bad for a first round. On the other hand, a million isn’t as big if you consider what contracts used to look like, as recent as two or three years ago.
Let’s travel down memory lane. Hit the gallery to view some examples.
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Photo: YouTube
Chief Keef – $6 Million
Interscope Records allegedly gave Chief Keef a $6 million record deal. They might be regretting that decision.
photo: WENN.com
Asap Rocky – $3 million
A$AP locked down a $3 million contract from Polo Grounds Music, a subdivision of RCA.
Nas – $3 Million
Nas signed to Def Jam for a reported $3 million with Jay Z as his boss.
Drake — $2 Million
Labels were lining up to sign Drizzy but he took his time. October’s Own signed a $2 million deal with Universal in 2009.
photo: Rosie Mendoza/WENN.com
50 Cent – A Milli
Eminem and Dr. Dre signed 50 Cent to a $1 million contract with Shady/Aftermath way back in 2002. That one paid off several times over.
Jay Z — $150 Million
Hov worked his way up to the biggest known rap label deal. He signed a $150 million deal with Live Nation in 2008.
Odd Future — $2.5 million
Sony/Red Distribution entered into a $2.5 million deal with Odd Future.
Lil Kim — $2.5 million
A Brooklyn company claims it singed Lil Kim to a $2.5 million deal in 2008. They ended up suing her for allegedly not upholding her end of the bargain.
photo: PNP/WENN.com
*Bonus — T.I. — $75 million
T.I. asked for $75 million to stay with Atlantic, or any imprint interested in plunking down that kind of cash. Then he raised it the amount to seven figures — for him, and the rest of the Hustle Gang.
He signed to Columbia, we don’t know for how much.
