Trapital - Why bad deals get signed

Hey there,

This week I spoke to entertainment attorney Tiffany Ballard. If you follow Genius, you've likely seen her on different shows. She's been called on to give her expert take on particular topics. And if you remember the reality TV show Money, Power, & Respect, you'll definitely remember the Brooklyn native.

Tiffany's rise in the industry is inspiring. During her internship at Universal Music Group, she used Myspace to build her network. While most of us were busy curating our Top 8, Tiffany was making moves. She discovered the music of a young New York rapper named Nicki Minaj and reached out to her manager.

Here's her story:

"Way back when I was an intern, I reached out to Nicki Minaj's then-manager, this guy named Fendi. I sent him a message saying 'I'm still in law school I can't offer my services, but how can I be down? I think she's the next thing to blow.' I remember I hit up my boy Nigel Mack who at the time was an A&R at Universal. I said "Hey Nigel look at this girl you should sign her she's so dope.'

Eventually, Nicki signed with Nigil Mack and Universal through Young Money / Cash Money.

That story brings me back to the blog era. The late 2000s and early 2010s was the time when a generation of artists got their break. They found their audience through blogs and social networks.

We also talked about why bad record label deals STILL get signed. Every few months, a rapper airs out their label and wants out of their deal. It's clockwork. Sure, there's more public info on deal structures and alternative distribution models. But that doesn't change the financial security that many artists want.

If you've been watching ESPN's The Last Dance documentary, you know that Scottie Pippen went through this too. Early in his career, the Chicago Bulls legend signed a 7-year $18 million deal for financial security. In 1997-98, he was the 122nd-highest paid player in the league! He eventually made real money when he switched teams, but it's the same type of situation.

You can listen to the pod on Apple Podcasts, Spotify, or wherever else you get podcasts.

I'll send the Trapital weekly article later this week!

Dan

P.S. Here's a short clip of Tiffany on Money Power & Respect.

P.P.S. - next week I plan to do a Trapital Mailbag where I answer questions from the Trapital community about the business of hip-hop. I normally limit questions to Trapital members, but this time I'm extending it to those who text me on my Community number. Text me your question at 415-234-3074 or click here.

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