As it was previously reported, 50 Cent left his long time label home, Interscope, to go the independent route. Now, 50 reveals that it took him four years of negotiations to leave the label with a big payout.
While in Canada doing promo for Animal Ambition, 50 Cent stopped by the Business News Network, and spoke on his upcoming album, the reason behind leaking the album, while also revealing that he negotiated a $23 million payout for the sales of his singles/ringtones while at Interscope before leaving the label.
50 explained that Animal Ambition is his reintroduction to the rap game while addressing his $23 million payday prior to his departure from Interscope:
For me it’s my reintroduction, because I’ve spent a long time period on hiatus. I was in the back portion in the music business. I was in the business portion of music for four years. Because it was my fifth and final album requirement for Interscope we was in a position where we would have to do audits and go through the books and everything. It was conflicts in different areas.
As 50 continued, he explained his $23 million payout, which took him four years to get:
My album, Get Rich Or Die Tryin is the largest debuting Hip Hop album and the way we sold ringtones at that point is exactly how we sell the single. So, the language in the contracts spoke to the same light and the way I would be paid off a ringtone if that’s the way I was to be paid off the singles would mean that they owed me like another $23 million maybe. So we went through that process and it took for four years actually. It took a while for us to get through it.
50 explained how Beats conflicted with his own SMS Audio headphone line, after he was paid, and how that factored into him parting ways with Interscope:
I was paid ($23 million), and then everything was comfortably. We resumed back to making music. Then, what I was getting out of the response to the actual music made me feel like I lost that camaraderie we had at one point. Not in touch with the audience but within the actual system itself because Interscope’s priorities shifted. They created Beats Audio. And Beats was the priority of things over there and I had already committed to my own audio company, SMS Audio. It was like I’m the competing company while actually being signed to the company as an artist. I couldn’t get the leverage I needed to properly launch the project. I went another route. I went the Eminem route.
50 explained why he is leaking his album, and releasing videos for each track:
That question is answered in every project you’ve seen so far. All of them have are online an available before you actually bought them. The all leak before they’re actually supposed to be out… You can tease them (by giving them snippets) to get people excited so they can buy it, or you can give it to them, and it assures them that they’re buying something that’s worth buying.
Watch 50 Cent’s complete interview with BNN below: