Cash Money Records

Cash Money Records

Cash Money Records is an American hip hop record label founded in 1989 by brothers Bryan “Birdman” Williams and Ronald “Slim” Williams in New Orleans, Louisiana.

History

For the first few years, Cash Money played host to a number of local releases by artists, selling hundreds of thousands of albums without ever releasing a music video or having a Billboard hit. Cash Money’s big break came in 1997 when the label’s most popular artists, the Hot Boys, B.G. and Juvenile in particular, caught the attention of Universal Records executives. Juvenile’s Cash Money release Solja Rags sold 200,000 copies independently. In 1998, Cash Money signed a $30 million pressing and distribution contract with Universal, entitling the label to 85% of its royalties, 50% of its publishing revenues and ownership of all masters. However, B.G. and Juvenile later left the label in 2002, claiming financial mismanagement.

Between 2001 and 2003, the label sold 7 million albums. The song “Still Fly” by the Big Tymers was nominated for two Grammy Awards. In April 2003, Juvenile returned to the label for a reported $4 million deal, and in return, he signed over the rights to Juve The Great, an album which would go on to sell over a million copies. Cash Money also signed deals with several other artists, including Sean John and Jacob the Jeweler. In 2007, former Hot Boy member Lil Wayne was named president of Cash Money Records and CEO of Young Money Entertainment, giving the rapper full creative control over all releases under the two labels. Later that year, however, Lil Wayne stepped down as president to focus on his career, especially Tha Carter III. In 2008, Lil Wayne re-signed with Cash Money, ensuring that his next few albums will be produced by the label. In September of 2008, the label diversified by releasing rocker Kevin Rudolf’s smash-hit debut single “Let It Rock” featuring label-mate Lil Wayne, it went on to sell over 3,200,000 to-date, easily becoming the best selling rap rock single in history. On October 15th, 2008 at the MOBO Awards, British R&B singer Jay Sean announced that he had signed with Cash Money Records.

In February 2009, the Williams brothers were featured in CNBC’s Newbos: The Rise of America’s New Black Overclass, a documentary show profiling several black multi-millionaires. Former Roc-A-Fella Artist Freeway and 2 Pistols recently signed to the label. On August 16th, 2009, Bow Wow announced that he signed with Cash Money Records.

Music Labels illuminati Organizations by Khattab — November 9, 2009 at 11:28 pm | 0 comments