- P. Diddy is an American rapper and producer
- He runs the record label Bad Boy
- He will be giving creative control back to his artists
Besides being a hip hop star, P. Diddy has been a producer first and foremost. He has very successfully run his record label Bad Boy for a very long time now. As TMZ has reported today, P. Diddy has made a choice. And that choice was the right one, regarding a lot of money. He has officially turned down a fortune to make sure his former artists have control of their own music.
According to them, sources with direct knowledge say that he is making an unprecedented move in the music industry. This means handing over the publishing rights to several of his former BB artists and forsaking a lot of cash to do so!
Diddy is not such a bad boy after all
For years, he has famously rapped about his wealth and flaunted it time and again. And so, it's clear that he doesn't need the money. In making this move, he actually sacrificed hundreds of millions of dollars. TMZ's sources say that Diddy has been approached for Bad Boy's entire portfolio and was offered a king's ransom for it all, but he turned that down and chose to give his artists control.
A Bad Boy representative declined to disclose the terms of those deals. However, sources with knowledge of the situation say the process of reaching out to the artists and writers began in May 2021 after Diddy had turned down various offers to sell.
Also interesting:
Rapper, producer, and GRAMMY-winnner!
As 'Variety' reports, in a rare move apparently themed for Labor Day, he did it because he "decided to reassign his Bad Boy publishing rights back to all Bad Boy artists and writers who helped build Bad Boy into the powerhouse it is today."
The artists in question include the Notorious B.I.G.’s estate, Faith Evans, Ma$e, the Lox, 112 and "many more" unspecified creators. Specific details were not immediately available but the assets are said to be worth hundreds of millions of dollars.
This signifies a new dawn in music, and it empowers music creators like never before. It remains to be seen how this will impact other labels and producers. Perhaps in the era of Hollywood strikes, this could set off another one!
