Oakland born rapper, Philthy Rich explained why he turned down Roc Nation’s 360 Deal and remained as an independent artist.
Appearing on Cam Capone News, Philthy Rich is forever grateful for making the right decision over a year ago. This is when he decided to reject Roc Nation’s proposed 360 deal. After the pandemic hit, this was clearly the right decision for Rich.
So, what is a 360 deal? A 360 deal between the music artist and a music industry company. In the deal the company agrees to provide financial and other support for the artist, including direct advances as well as support in marketing, promotion, touring and other areas. In return the record label receives a percentage of the earnings from ALL of an artists activities rather than just album sales.
Unlike many rappers, Philthy Rich is not interested in any deal with a record label, especially a 360 Deal. “I can drop a tape today and get paid in 30 days. A lot of these n—as don’t own nothing, no YouTube checks or royalty checks,” Philthy Rich explains. “They wanted to do a deal with me with Roc Nation, but they wanted all my back catalog.” That was an instant no for Rich. If he had agreed, Roc Nation would have benefited from projects that they had nothing to do with. Philthy Rich has an enormous catalog to the point where he was dropping a new tape every month.
Speaking to the management side of Roc Nation, they promised all type of placements and “looks” for the Cali rapper. Rich was willing to give a shot, but his idea was shot down. He wanted to put out an album to see how it would go, but Roc Nation wanted a piece of touring and merch. Luckily for Rich he decline just before the pandemic hit.
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“Right after that the pandemic hit, so there was no touring. So if I had signed that, they would have just been getting paid off my back catalogue that they had nothing to do with. And, I would never had gotten paid for no shows cause I wouldn’t have been able to do none. Philthy Rich continues to put out music and dropped his latest music for “Oakland To Detroit” featuring Payroll Giovanni.
