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In this clip from a consultation session from yesterday, I speak with an entrepreneur from Florida named Nuko. We talk about setting up a publishing company and I also discuss with her how Sean "P. Diddy" Combs aka Puff Daddy set up a successful publishing company along with his hit record label Bad Boy Records. I've always respected Diddy as an entrepreneur and I've heard several stories about his rise to success and fame. One of the stories that I've heard dealt with him taking large sums of his artist's publishing royalties. In the 90s, record labels spent lots of money to market their artists, so the labels taking a portion of the artists publishing money can be justified. Musicians depend on publishing royalties and artists often regret signing publishing deals later in life, when their music and touring revenue begins to slow down. Some of these publishing deals are straight up predatory. Music artists are often unemployed and in need of money and artists often sign deals without consultation. A record label or publishing company may offer the artist an advance, which means cash in their hands right now. This is how the music business works and this is why labels like young and naive artists. You can't hate on a business man or woman for trying to make a profit. The whole point in being in business, is to profit. No one is in business to lose. You must try your best to never take business personally, even though business and finance has an affect on your livelihood. I also share the story of the day I received my first publishing check in the mail. Check out the video and make sure to Like, Comment, Share this video and Subscribe to the channel if you haven't already.
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#musicbusiness #publishing #diddy
