I remember having a discussion with Little Brother front man, Phonte, last year about the business future for hip-hop groups like his, and he said that since the money was not in record sales, he was looking at getting companies to sponsor their shows and prospective tours. Fast forward to 2008, we now see Live Nation and Jay-Z in bed together.
Recently, Ad Age did a story on Compton, Calif phenom rapper, Tyga and on his business model for success. Tyga, know to most for his song, “Coconut Juice,” is a blazing star on the top social networking sites and is signed to Lil Wayne’s Young Money Entertainment and Decaydance Records. But his buzz (over 5 million Myspace views), not mention his income, is garnered mostly through branding partnerships, because to date, his album No Introduction, has yet to crack the six-figure-sales mark. However, his singles have been charting really well – and some of his songs were given away for free at pirated sites.
So what does this mean for the future rapper/recording artist? Developing branding opportunities may be your lifeline not just in terms of relevancy, but also in generating some nice upfront dough for yourself that you don’t have to wait 6 to 9 months for. And when its time to do a show or go out on tour, your raised profile means more padded pockets. Marketers are willing to pay for what’s hip, and that can be you.
Phonte, you were definitely on to something.
