In an interview with The Irish Times Lupe breaks down why he didn't want to sign a 360 Deal with Atlantic:
Atlantic wanted Fiasco to sign a “360 deal” – where the label gets a chunk of money from all of the artist’s activities – and he wasn’t interested.
“I signed a traditional record deal with Atlantic just before they went into 360 land – right at the tail end,” he says. “Record labels now want to be like Disney. Someone like Disney is in complete control of their artists, like the Jonas Brothers. They’ll have a TV show, a radio station, a tour and merchandise and the record labels want that too.
“But it’s one thing to want it and it’s another to be like Disney where you have the infrastructure to do that. They own the radio stations and TV stations and the factory which makes the clothes. All the record label does is make records, and they send everything else out to individual vendors.
“I told the label I’d sign a 360 deal if they brought the facilities and experts in to the building. I’m not going to sign a deal to do TV shows if you don’t have an accomplished TV producer working for you.The AR man can’t do TV shows just because he went to school. Just because you’re a master at moving records doesn’t mean you’re a master at everything else. They need to spend more time working out those deals instead of trying to cheat the system and get things on the cheap.”
Click HERE to read the whole interview!