10/30/2023 0 Comments Master p labelBut to their surprise, Master P’s 1996 album “Ice Cream Man” eventually became certified Gold (selling over 500,000 copies). At the time of the deal, Priority Records didn’t expect Master P and No Limit to gain many sells. Priority records agreed to handle distribution, while No Limit records was expected to take care of all marketing and promotion costs. Whether “80/20” or “85/15”, one thing is for certain: Master P convinced Priority records to commit to a deal where No Limit records would maintain ownership of all recording masters, as well as receive the bulk of any profits. Michael Jackson’s Lawyer charged MP $25,000 to help him obtain an 80/20 distribution deal with Priority Records. MJ had a record deal with a major label Master P solely wanted a distribution deal that held similar elements―Most notably an 80/20 profit split, with No Limit records receiving the split’s larger portion. From there, he reached out to Michael Jackson’s lawyer for assistance. He turned the tables on the industry and set a blueprint for other artists and independent labels to follow for generations to come: He did research and found out that (at the time) Michael Jackson (MJ) had the best deal in the music industry. But Master P refused to submit himself or his company to such economic exploitation. In 1996, Master P noticed that a bulk of rap artists and small labels were committing to record deals that only allowed them the receive about 10% of all profits from their work. But unlike other Hip-Hop artists and independent labels at the time (and prior), Master P used his business savvy ways to achieve mainstream success while maintaining artistic and company independence… Gearing up to release his fifth studio album, Ice man, he made the decision to expand on a major level. Master P turned DOWN the deal and turned UP his grind with no brakes By 1996, Master P and his independent record company, No Limit, had established a strong growing fanbase of supporters in multiple cities throughout the southern region and west coast. The year of the Jimmy Iovine’s offer hasn’t been specified, though it is estimated that the deal was proposed in late 1994 or 1995. He declined the offer and went on to build a legacy of independence, innovation, and business savvy execution. Unlike the average unsigned artist at the time, who would have likely quickly jumped at such an offer without hesitation, Master P realized that he possessed the ability to make that same amount of money, and far greater amounts, without committing to a major label. As an unsigned artist struggling early in his career, Master P made a pivotal decision to turn down a million-dollar record deal presented to him by Interscope Record’s Jimmy Iovine. Far before becoming a household name, or even fully being able to sustain himself financially, Master P was already set on conducting business in the music industry on his own terms. “Master P was a real n*gga, that put his arms around me and showed me the business…I knew the creative side, but he showed business… If it wasn’t for No Limit, it wouldn’t be no money in rap… It was NO MONEY in rap until Master P came out!” -Snoop DoggĮssentially Master P (MP) and No Limit Records laid a foundation in the mid to late 1990’s that forever impacted the music/entertainment industry. Most notably, Master P influenced him to push for “80/20” distribution deals, and to maintain ownership of all master recordings produced by his label. One day after drenching the CEO with a rainstorm of questions, he told me that he has always aimed to be like Master P: Master P greatly influenced the way he ran his label and the various ways that he chose to maneuver the music industry. Like a curious child asking their parents millions of questions in an attempt to gain some understanding of this complicated world we live in, I took advantage of every opportunity to ask the CEO questions that I felt could possibly help me gain a deeper understanding of the music industry. In 2015, Interning for one of South Florida’s most influential record labels, I was given opportunities to communicate and interact directly with the label’s founder and CEO on a regular basis.
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