Part 2: Why Your Favorite Musicians Are Broke

Link to Part 1: https://youtu.be/2Ad1sNtqQ5Y

In Why Your Favorite Musicians Are Broke Part 1, we analyzed the 360 record contract deal and why that leaves so many artists broke.

In this video, I use a recent interview of Kreayshawn talking about her record deal, her hit Gucci Gucci, and how she had her bank account seized for not paying taxes in order to apply what I previously talked about to a real record contract.

Kreayshawn revealed so many great insights into her career as a major label artist after signing with Sony for $1 million on her podcast with Masked Gorilla. She had a really up and down career following the release of her massive hit "Gucci Gucci'. This song has reached 70 million views on YouTube and would have surpassed 100 million streams had Spotify and streaming been around in 2011.

She explains why she is still in debt to Sony for $800k, why she doesn't want you streaming her biggest hit, and why she believes the label shelved her future albums.

During the end of this video, I share an artist who is making a lot of money as an independent artist and how they're connecting with fans in a unique way to drive sales of concert tickets, albums, and merchandise.

Sources for research:
Masked Gorilla podcast: https://www.youtube.com/watch?v=P7Uqgqoaycc

Buzzfeed article about artists getting shelved: https://www.buzzfeed.com/azafar/what-happens-when-your-favorite-artist-is-legally-unable-to

Kreayshawn interview with Fader: https://www.youtube.com/watch?v=nz7NM2H3a0A

Lupe Fiasco tweets about Lyor Cohen: https://www.complex.com/music/2019/02/lupe-fiasco-atlantic-lyor-cohen-music-biz-cartel

Industry expert breakdown of Kreayshawn's deal: https://djbooth.net/features/2020-07-30-kreayshawn-contracts-recoupments-record-labels?li_source=LI&li_medium=m2m-rcw-djbooth

Ryan Leslie The Breakfast Club interview: https://www.youtube.com/watch?v=SJIr5IRB3UE

Ryan Leslie Pando article: https://pando.com/2014/11/20/with-the-help-of-ben-horowitz-rapper-ryan-leslie-wants-to-reinvent-the-record-label-for-the-new-music-economy/

Article about Speaks - ghostwriter for Gucci Gucci: https://www.complex.com/music/2011/11/the-rapper-who-claims-he-wrote-kreayshawns-gucci-gucci-talks-about-being-a-ghostwriter

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Tags:
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