Meek Mill is attempting to side-step the music industry by working directly with financial institutions, rather than Rick Ross, JAY-Z and labels such as Maybach Music Group and Roc Nation, to finance his new imprint.
On Monday (March 11), Meek Mill authored a lengthy rant on Twitter (X) both outlining his plans to create a new, independent record label while also highlighting his career earnings, which he claims has accumulated to more than $100 million. He started off making his case by referring to the success he and Drake were able to create upon reconciling and delivering “Going Bad” in 2019.
“What bank can I do music business with, the overhead on making music is low,” Meek Mill wrote in part. “Working a project can cost up to 5m for me and one hit song can make 25m like ‘going bad did’ regular hits 10m at low… we don’t get data from labels how much money each song made quarterly.”
He continued, “How can you actually negotiate a deal if you don’t know how much you streaming in dollars monthly … most of the times artist get confused in business and lose their creative spark.”
How can you actually negotiate a deal if you don’t know how much you streaming in dollars monthly … most of the times artist get confused in business and lose their creative spark
— MeekMill (@MeekMill) March 11, 2024
In another tweet, Meek Mill went on to address his relationship with Ross, claiming he made more than $100 million in profits despite signing what he identified as a “bad” deal at 18-years-old.
“To all American banking … I have a history on paper of accumulating over 100m in profit with music I made with my ip,” he wrote. “I signed a bad contract when I was 18 it last til I was 32 years old … Ross did some good business with me but I want my money from banks!”
He followed that message up by firmly doubling down on his belief he doesn’t need the money labels are offering him because he’s now savvy enough to know how to generate revenue on his own.
I’ve been handling millions since the age of 23 … I have 10 other businesses I don’t need my money from just labels I wanna build my own … I would partner with a existing label but I still want my money from a bank or investor! Music is too easy to generate money for me!
— MeekMill (@MeekMill) March 11, 2024
In a subsequent tweet, Meek Mill admitted neither he nor Ross truly understood the scope of what their business within the music industry looked like from an investment standpoint.
“I was just hungry,” he wrote. “I don’t think it was Ross fault either I don’t think none of us understood the business like we do now from 2011 … he was my power marketer I asked him to get me on tv because I knew what I could do…. He invested in my early salute!”
I was just hungry… I don’t think it was Ross fault either I don’t think none of us understood the business like we do now from 2011 … he was my power marketer I asked him to get me on tv because I knew what I could do…. He invested in my early salute!
— MeekMill (@MeekMill) March 11, 2024
In the end, Meek Mill went on to clarify that he and Rozay are on—and have always been—good terms when it comes to business, tweeting, “Don’t get it confused me and Ross handled the business and still getting money from every direction.”