(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:
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