As Def Sounds previously reported, T.I.’s 10 year deal with Atlantic has come to an end, and the rapper was looking to cash out as he was shopping a $75 million record deal.
- Previous: Mixtape Release: Hustle Gang – G.D.O.D.
Now, while out doing promo for the new Hustle Gang, G.D.O.D., mixtape, Tip stopped by Atlanta’s Streetz 94.5 and spoke on continuing shopping for a deal, while explaining what it will take for him to sign another major deal.
During the interview, T.I. says major labels across the board want to sign him, but the numbers aren’t looking right for an artist of his magnitude:
Across the board, everybody wants to be in business, they just don’t want to pay to be in business.
I’m gonna tell you like this… You aint gonna get no king on your roster for anything less than 8-figures, and I’m gonna tell everybody that, so just let that be a message to you, because I can nickel and dime myself. I already know that 85% of whatever I’m selling is a pretty penny.
Tip explains why the deal has to be at least 8-figures:
When you got an artist like myself, of this magnitude, you gotta look at it like you have a merger or an acquisition of a multi-media company. I’m a multi-media company, I have 6-7-8 areas that I’m generating revenue right now… You got recording industry, you got publishing, touring, film, merch, you got television, you got fashion, technology, that’s 8-areas that I’m currently generating streams of revenue in.
If you feel like you want to participate in all 8 of those things, it’s going to cost you $50-60 million. If you only want 1 or 2 of those things, come to the table with $12-15 million, we can talk about that too, but we’re not gonna talk about no 1′s and 2′s.
Watch T.I.’s interview with Streets 94.5, as he also speaks on currently operating as an independent label, below: