One of the biggest laments I hear for the record industry of yesteryear (like 60-70s) is that today there is little time for a young talent to develop and mature on a major record label. If you don’ t have a substantial hit off your first release then you stand a good chance of getting dropped.
Do you think that MGMT would have gotten a second album if they had released Congratulations before hits like Kids and Time to Pretend off of Oracular Spectacular? In the words of Macaulay Culkin “I dont’ think so.”
So it’s interesting to read about what Jay-Z is doing to develop his artists and make sure he won’t be burned by a industry still in turmoil.
From the Wall Street Journal:
Like many in the industry, Jay-Z is trying to wean himself off a reliance on selling recorded music.
His company has released only one album, his own “The Blueprint 3” in 2009. “It’s been two years since the Live Nation deal and I haven’t put out one artist,” he says. “But right now Roc Nation is profitable because we manage [artists] and we have a publishing company.”
He says such ancillaries buy the company to time to shape the musicians on its roster, including rapper J. Cole and singer Willow Smith (the 9-year-old daughter of actors Will and Jada Pinkett Smith). “We don’t have to rush out records that don’t work for the sake of making money,” he says. (More here)
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