In a recent episode of the Earn Your Leisure podcast released on August 11, Yo Gotti, the head of CMG label, delved into the contentious topic of 360 deals in the music industry, citing an insightful quote from JAY-Z.
Addressing the issue, Gotti provided his perspective on these all-encompassing deals that are typically offered to emerging artists. Such agreements involve the label financing various aspects like marketing, promotions, touring, and more, while also claiming a percentage from the artist’s earnings across multiple revenue streams, encompassing digital sales, live performances, merchandise sales, endorsements, and songwriting royalties.
Gotti emphasized the practicality of business in his stance, recalling his own experiences from earlier in his career. Drawing from a JAY-Z quote, he said, “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. 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 went on to present a scenario involving a freshly debuted artist, underscoring the initial lack of value and income. “Say it’s a brand new artist who walk out this building today. What’s your value today? How much you getting for a show today? How many records you selling today, how much merch you selling today? Nothing. You grossing 500 a year – dollars.
Gotti advocated for a more collaborative perspective, wherein all parties contribute to the artist’s success. “So now let’s say us three put the money in, put the work in, now you making $500 million a year or $5 million, whatever. We not supposed to get none of that?”
The term “360” has often been criticized for its negative connotations, suggesting control over all aspects of an artist’s career. Gotti challenged this notion, calling it “baseless.” He elaborated, “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 bullshit. 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.”
Support for Gotti’s viewpoint has been evident, with GloRilla, an artist under the CMG label, expressing admiration for Yo Gotti’s leadership. She recently praised him as the “BEST CEO ON THE PLANET.”