December 19, 2005
Why Diddy still has a label
OK, everybody put on your tinfoil hats.
Remember a couple of weeks ago when D-Block went on Hot 97 whining about how Diddy still owns their publishing and hence they can't afford to put any more albums out? Diddy himself called in and was talking all kinds of shit, but when talk turned to the fact that he still owns Biggie's publishing, things got all tense.
Next thing you know, Diddy had hung up the phone and had Biggie's moms calling in talking about how Lil' Cease needed to mind his own business. Notice how she didn't actually admit at any point that Diddy does not in fact still own BIG's shit.
We know for a fact (because it was widely reported) that if it weren't for the BIG back catalog, Diddy wouldn't have his current joint venture with Warners, which is why we keep seeing all this various BIG-related garbage a good 8 years plus after the fact.
Supposedly, he approached several different labels looking for something ridonkulous like $100 million, not unlike what Russell Simmons got for Def Jam. But of course they only laughed in his face, considering what he's done in the post-BIG era, and he ended up settling for something more along the lines of $10 million.
But here's the thing: Diddy and the TIs at Wonder Bros will make a shitload of money. Even with the record business fucked up as it is, there's still a lot of money to be made repackaging shit by dead artists (see Bob Marley, Elvis, 2Pac, etc.). I mean, it's not like you have to actually rerecord the shit or pay the corpse a per diem or anything.
So I guess my question is: How much do you think Diddy had to pay Biggie's moms to keep quiet about the fact Diddy still owns Biggie's masters and how do you think that figure relates to the amount Diddy and Lyor stand to make from said recordings over the next, I don't know, 50 years or so?
Byron Crawford a/k/a Bol is the celebrated author of several books, most recently NaS Lost: A Tribute to the Little Homey.
- Amazon (Paperback)
- Amazon (Kindle)
- CreateSpace (Paperback)
- Smashwords (ebook)
- Barnes & Noble (ebook)
- iTunes (ebook)
- Kobo (ebook)
Posted by Bol at 02:35 PM | Permalink
TrackBack URL for this entry:
Listed below are links to weblogs that reference Why Diddy still has a label: