Yo Gotti called upon a JAY-Z quote as he explained his pro stance behind the controversial 360 deals in music.
via: Vibe
The Collective Music Group (CMG) leader examined the necessity behind the controversial commitment, quoting another Hip-Hop mogul in the process.
“I feel like business is business, right? Going back to what I was saying about myself and my younger days, in my younger business ventures, I think business is business,” elaborated the 42-year-old on the Earn Your Leisure podcast. “I think Hov said, ‘What’s 100 percent of 0?’ Right, so to me, you ain’t thinking logical when you think you get everything and nobody get nothing from you. That’s not common sense, bro.”
He continued to detail, “Because it’s a term, they say ‘360’ and it don’t sound cool and you seem like you’re bossed up because you ain’t in one? It’s bullsh*t. That ain’t business. You basically telling me you want me to put up my money, you want me to put up my time, you want me to take my risk – but you don’t want me to get nothing. Because it ain’t even guaranteed that you’re gonna win.”
According to Indie Music Academy, a 360 deal is one of the most common, and most misunderstood contracts artists sign. It can be defined as a deal where “a recording label not only takes a share of the artist’s music sales, but also percentages of revenue from other ventures, such as concerts, merchandise, television appearances, or publishing.”
