50 Cent, $23 Million Payout By Interscope Records
During an recent interview with Business News Network, 50 Cent spoke about the release of Animal Ambition and also receiving a $23million payout from Interscope Records that took 4 years to negotiate.
Fifty speaks on how he feels about Animal Ambition and the process it took to leave Interscope.
50 said, ”For me it’s my reintroduction. ‘Cause 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. 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.”
“I was paid,” he added with a smile. “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.”