Wednesday, February 10, 2021

How Jay-Z STEALS Artists from SMALL Record Labels



In this clip from a consultation session last week, I discuss starting your own record label, signing artists, publishing and loyalty. I also discuss how Houston, TX based artist Megan Thee Stallion recently sued her record label, 1501 Entertainment, after she wanted to renegotiate her record deal. Megan signed a 360 deal with baseball star Carl Crawford's record label 1501 Entertainment, a few years back. After reaching stardom, it was reported that Jay-Z's management company, Roc Nation, reached out to Megan regarding their interest in managing her career. Shortly after the news that Megan was going to be working with Roc Nation, reports started to surface that Megan was in talks of suing her record label, due to her wanting to renegotiate her agreement with 1501. Usually when up and coming artists gain fame, various management companies will gain interest in the artist. Management companies will want to see your contracts and offer advice on your behalf, but this practice is known in law as "tortious interference". Tortious interference, also known as intentional interference with contractual relations, in the common law of torts, occurs when one person intentionally damages someone else's contractual or business relationships with a third party, causing economic harm. Whether intentional or not, you should not interfere with other people's financial agreements. This is how Jay-Z and other artists management companies such as TMWRK, steal artists from smaller independent labels. I recently won a six-figure lawsuit a few years ago due to unscrupulous artists, management companies and lawyers who will cut anyone's throat to get ahead in life and in business. The music business can be great, but it can also be dirty. Loyalty may play a major part in your success in the music business. Is your loyalty based on how much you can get paid or is it based on your true belief in yourself and your team / situation? I don't put much faith in loyalty nowadays. What are your thoughts? Check out the video and make sure to Like, Comment, Share this video and Subscribe to the channel if you haven't already.