Mims

Rapper Mims Speaks On Lawsuit Against Capitol Records Over 2007-08 Earnings

(AllHipHop News) “This is Why I’m Hot” hit maker Mims recently spoke to AllHipHop.com  about his long running lawsuit with former record label Capitol,  over his 2007-08 earnings.

Mims claims to have made close to $15 million with the label on his first album run, mainly because of the #1 single “This Is Why I’m Hot,” which has sold over million copies and has been certified platinum.

So, after having such a successful first run with his 2007 major label debut Music Is My Savior, we sat down with him to discuss why his follow-up album Guilt underperformed.

Mims touched on coming into the game with a mainstream smash like “This is Why I’m Hot.”

“I remember getting the record for ‘This is why I’m Hot’ and I said to myself  ‘Im so fed up with the way the music industry’s going that I’ma make a song to show them the state of Hip-Hop and where it’s at,” Mims told AllHipHop.com. “That’s why you get the line in the record ‘This Is Why I’m Hot’ : I don’t gotta rap/I could make a mil saying nothing on the track.'”

Mims claims the lawsuit slowed down the momentum of his career, since Capitol Records allegedly owes the rapper more than 7 figures more than what he stated he had already earned from the single.

“We made a good amount of money from 07-08. The problem is when the time to pay that money comes up,” Mims explained to AllHipHop.com. “My situation with Capitol was, and still is considered a JV [Joint Venture] deal, which means that after all expenses are paid you’re suppose to split the profits 50/50 with the company. What these companies like to do is inflate expenses and tuck away a lot of different money. Plain and simple. We talked about it away from the camera…it’s like stealing money from somebody.”

Check out the exclusive interview with Mims below:

Follow Mikey T The Movie Star on Twitter @MTMovieStar

  • NEWSKULL

    ONCE AGAIN Y’ALL COLD… LMAO

  • @Real_SirJamie

    Good read. School people who think they know so much about numbers are record sales. I own my own publishing so I will NEVER have this problem. Let this be a lesson to artists who think these labels are out to help you “get out your dreams”. Good video too. Hopefully M.I.M.S. owns all his PR now.

    • J.Erick

      Where’s yo music?

      • @Real_SirJamie

        *sighs and remembers what EDogz said last night* Youtube or google “Rok The Royal” sir.

      • J.Erick

        Fuk is u sighing for?? I jus asked a question

      • C.M.G

        lol

      • @Real_SirJamie

        Because last night a friend of mine told me to link all my profiles to one name so my art (not just music I also draw and play instruments) is easier to find and now what he said is coming to fruition.

      • @Real_SirJamie

        But did you look it up or was asking where my music was more of an accusation/rhetorical question?

      • J.Erick

        It was a question. U said u own ur masters, i said where’s your music. U wasn’t attacking mims, and i wasnt asking where’s your music in defense of him. (Would never defend mims, but i digress)

      • @Real_SirJamie

        Master Recordings are different than royalties sir.

  • J.Erick

    Capitol got them type of lawyers that’ll have you in court for 10 yrs. Good luck to em’

  • digitallife

    He made $15 million off that album? Damn and JCole somehow hasn’t earned 1/3 of that two albums in….At least we know mims was smart going into a jv instead.

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  • Dan_Tebasco

    Wonder if he titled the lawsuit “This Is Why I’m Broke”

  • cosmo smalls

    That numbers and marketing BS is what made you the money!! You cant have it both ways. Once upon a time one hit wonders would retire with grace and be happy for their chance. Go away, ‘your boy mimms’.