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    Trapital

    Trapital is where technology meets culture. Hear breakdowns on the most important trends in tech, media, and entertainment. Trapital founder Dan Runcie and various guests break down the moves that shape the rest of society. Learn more

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    Latest Episodes:
    Why The Next 10 Years Of Rich Homie Quan’s Career Won’t Be Like The Last Dec 01, 2022
    Show notes

    Rich Homie Quan was one of the defining rappers of the music era that preceded the industry’s shift to streaming. He — along with the likes of Future and Young Thug — made “mumble rap” a hot commodity in the mid-2010s. But while Future and Thugger continued their careers, Quan took a hiatus from the game, until now.Quan dropped his first project, “Family & Mula”, in almost three years back in October. During the long layoff, Quan admits he lost both his confidence and heart for rapping. He refused to quit on himself during the down period, which only spurred him artistically and business-wise. That’s because the eight-track EP is also the first under his independently-owned Rich Homie Entertainment label. Now ten years into his career — most of which spent under a label — Quan felt now was the time to go independent. Not only for the creative freedom, but also for the CEO role that comes with it. I caught up with Quan to reflect on his 10-year music career up to this point and how he envisions the next ten playing out as an independent artist and a CEO. Here’s everything we covered:[2:41] Reflecting on the loss of Takeoff[4:07] What Quan misses about his “come up” years[5:16] Why Quan went independent at this stage of his career [5:40] Taking on a CEO role[7:57] Why Quan doesn’t like his hit record “Flex”[10:33] New partnership with Troy Carter and Suzy Ryoo's Venice [14:44] Differences between Quan the CEO and Quan the artist [15:54] Rising as an artist before the streaming era took off[17:25] Distinctions between album, EP, and mixtape [20:16] Quan’s non-music business pursuits [21:56] How pandemic re-motivated Quan to do music[24:00] Quan wants more credit for influencing Atlanta sound[31:14] Quan’s 10-year vision for himself [35:54] Did Quan start “deluxe” project drops?Listen: Apple Podcasts | Spotify | SoundCloud | Stitcher | Overcast | Amazon | Google Podcasts | Pocket Casts | RSSHost: Dan Runcie, @RuncieDan, trapital.coGuests: Rich Homie Quan, @RichHomieQuanDownload The Culture Report here: https://trapital.ck.page/a23b7a6a4aSponsors:MoonPay is the leader in web3 infrastructure. They have partnered with Timbaland, Snoop Dogg, and many more. To learn more, visit moonpay.com/trapitalEnjoy this podcast? Rate and review the podcast here! ratethispodcast.com/trapitalTrapital is home for the business of hip-hop. Gain the latest insights from hip-hop’s biggest players by reading Trapital’s free weekly memo.TRANSCRIPTION[00:00:00] Rich Homie Quan: I was kind of afraid of my creativity on that song. You know what I'm saying? If that makes any sense. Like, I don't know. Cause I make a lot of music, man, and it's a lot of songs that's probably similar. That's like that. That will never come out only because of my mind. But that's why lately I've been letting the team I create, decide, you know? Pick which ones they feel like that needs to be heard. You know what I'm saying? So that's why I've grown as an artist slash CEO.[00:00:31] Dan Runcie:Hey, welcome to the podcast. I'm your host and the founder of Dan Ruey. This podcast is your place to gain insights from the executives in music, media, entertainment, and more who are taking hip hop culture to the next level. [00:00:51] Dan Runcie: Today's guest is the one, the only Rich Homie Quan. R.H.Q came through to talk about his partnership with Venice and how this is a new start for him as an artist. He's independent now. He's seen what it's like on the label side. He's seen what works, and what doesn't work. But this is his opportunity to have more creative control. To see more of the money that comes in and out, and ultimately have more of a say on what makes the most sense for building his career and moving. So he talks about the benefits of the Venice partnership. He also talks about some of the other things that he's working on as well. We talked about his real estate game and how he made over a million dollars this past year from his real estate business. We also talked about where he sees himself in Atlanta's influence. He says he's top three and not three from the city. So you have to listen to hear the name chops that he has in here. Some of the other multimedia projects and a whole lot. Quan also recorded this one while he was getting his hair braided, so I gotta give him credit for multitasking. Shout out to Quan. Hope you enjoy this episode. All right. Today we got the one and only Rich Homie Quan with us. Man, before we get started with any of this stuff, let's just do a quick check, man. How are you? How are you living? How are things right now?[00:02:03] Rich Homie Quan: Oh man, I'm good man. Mentally, better than ever. I'm just in a good space right now, man. I love the space I'm in, probably better than ever, man. I'm good, man. Yeah. How about you, man? How are you, you know what I'm saying? Mentally, you know what I'm saying? You know, spiritually how you feeling? [00:02:021] Dan Runcie: Yeah, I mean, I'm good. I mean, things have been good getting ready for the holidays and everything right now, but, I feel like it's kind of been a tough week, I'm not gonna lie. Thinking about take off and just thinking about artists passing so young. I mean, I mean, I know that this isn't anything new necessarily, but it just feels like it's been so much recently, so I've been thinking a lot about that.[00:02:41] Rich Homie Quan: That part, you know, like I've been trying to get it out my mind, man. Cause like me and Takeoff wasn't close, but I have worked with him, you know what I'm saying? On numerous occasions, on numerous occasions. And with him being from Atlanta, man, it just hit, that one hit a whole lot different, man. That one touched me, man. That one hurt me, man. That hurt a lot of us, man. You know what I'm saying? Like I think I was walking say the best man, like hip hop took big ill man that that was a humongous ill man.Humongous.[00:03:10] Dan Runcie: Yeah. And there were so many of you that came up right around the same time. I feel like you came out and then they had the moment, like there were so many of y'all from Atlanta that rose up.[00:03:22] Rich Homie Quan: Yes. Yeah. So that's why it's like, I, I kind of felt a different, like I saw, I saw before, um, they were with QC all us sitting on Gucci couch before we, before we got our first million, when we still were grinding and grind mode. So like, just to see that and know like, man, that could have been me, that could have been any of us. You know what I'm saying? Like, so that, that one definitely like hit me. Alright man, real hard.[00:03:47] Dan Runcie: Yeah, for sure. And I mean, you were just talking about it, you going back to being I QCs couch. I was just looking back at the double like cell cover, the freshman class for you on the cover. And man, it was such a moment. I mean, when you think back to that moment when everything was rising up, like what do you think on the most, what memories stick out to you the most about that time?[00:04:07] Rich Homie Quan: Uh, what memories stick out about the most? I would just say more so recording in the music, being so. Because at that time we didn't have all those eyes on us. So then, you know, like we could say whatever and when, and no one, you know, we can say how we really felt. You know what I'm saying? Because you was in that grind and it just, you know, once you get to a certain level and certain things, you can't say no. Cause you know what I'm saying? You got certain people looking at you and that dissecting your words every, every type of way. So I would just say, man, just a recording process, man. Then man, the way we record the way, it'll be all five of us in the booth at one. Or maybe you should say it this way or this way. And it was just a know, just a vibe man. And the learning experience, man. Cause we were so young at that time, like we didn't know we'll be here 10 years later, you feel me? So yeah, that's the beauty of it all. [00:04:56] Dan Runcie: And I mean, for you 10 years later, you've done a few interview recently. You talked about why you wanna be independent and what this next chapter looks like for you? What has been the big thing that's made you wanna have this next chapter? Be independent, be on your own terms as opposed to how the last decade was up to this point?[00:05:16] Rich Homie Quan: Would say the most important part about being independent and what I wanted about it, what I wanted, uh, from it more so, it was just the fact that I had tried everything else. I had tried being with the other independent labels and I just thought it was my turn. I had saw every side of the sword, but just this side of the sword and it's just been so much more fun.Just when I say fun, it's more so from a business side. And I say that because at first I was such an artist mode. It was hard for me to be a CEO, but to continue to say I'm a CEO when I'm not doing none of the CEO shit. And I say that to say like, I'm not in tune with the conversations, or I'm not on every phone call. I'm not CC'd in those emails and those important emails. So now man, with me being a ceo, I'm more in tune. You know what I'm saying? I'm knowing, I'm knowing what the budget is for this. Uh, just understanding the budget, know what I mean? Understanding, so, you know, just taking this a whole lot more serious, being independent, knowing now, like it's really the, that's why I'm probably in this such great space because I know the opportunity I have, I know what I've done.[00:06:27] Dan Runcie: You talked about seeing the money and just being able to see what the costs are looking like, what the money's coming in. What was the biggest surprise there? Cause I know you didn't see a lot of that as the artist, but now that you're being CC'd on those emails, now that you're seeing those things, did anything stick out to you?[00:06:40] Rich Homie Quan: The most? To me, uh, it was just more so of money I would see go without videos and stuff like that, and I would have no knowledge on my input when it's my money that's paying for these. That made me just put my, you know, like, damn, I would've rather shot the video with so and so and so, and maybe, you know, it could have been better for a cheaper number than a number of, uh, someone who's big, big, like, you know what I'm saying? So it just started making me like, way more in tune man, just way more in tune and like, how can I call my c myself a CEO if I'm, if I don't have those last say sos on, you know what I'm saying? Who, who, who I think should shoot the video. So it's like, yeah, I just want to stay in tune, man. And stay at it. Stay at it. Yeah. All the way around the boy, man. Like I'm getting older now and I still got people I look up to and I'm looking at some of the transitions they had to make. You know, sometimes you gotta realize everybody can't go with you. Right. And that's part of better. [00:07:40] Dan Runcie: And I feel like you're talking a lot about something I've heard you talk about at other interviews too. Creative control, being able to have more say so over the process. And I was surprised it stuck out like a song like Flex, which was a hit that people liked. Like you really weren't feeling that song as much. [00:07:57] Rich Homie Quan: Oh, oh. Like one of mine like, because I felt like at the time Flitch came out, I was such, I was more so of, I don't wanna just say a street rapper, but those were my fans. My fans were like the people who came up from similar situations to me. And I just didn't want my fans to ever think like I was crossing over or making crossover music. And, cause that was one of them songs. Like it wasn't a, I was known for making pain music, you know what I'm saying? So to say. And uh, that was one of, one of those still good different records, but it made, it was, it was a gift and a curse to me cause it made me realize. It's not what I like, it's what people want, and it's all about the fans. And that was my biggest song, like solo to this day. So it's just, it, it just made me realize like co you just, just focus on making the music and let the people decide for you, which is which man, you know what I'm saying? But it turned into a good situation, man. To this day, I still patrol. I still perform Flex Man, you know, so still getting paid off. So, you know, that's. That's one of the perks, man. You know what I'm saying? Trust your team. Definitely trust. Trust your team. The ones that love you, who love you, that you keep around.[00:09:13] Dan Runcie: Yeah, and I feel like that's a balance I hear from even the folks that have been doing this in entertainment for years. I feel like Denzel was someone who had said, he's making all these equalizer movies, right? But he's like, those movies pay the bills so that I can do these August Wilson plays and all of these things that really mean something to him. So I feel like Flex might be that for you, that gives you the ability to do the stuff you really wanna put out so…. [00:09:38] Rich Homie Quan: And that's what it was like. I was kind of afraid of my creativity on that song. You know what I'm saying? If that make any sense. Like, I don't know. Cause I make a lot of music, man, and it's a lot of songs that's probably similar. That's like that, that will never come out only because of my mind. But that's why lately I've been letting the team, I create, let the team decide, you know? Pick which ones they feel like that needs to be heard. You know what I'm saying? So that's why I've grown that as, as an artist slash ceo, know what I'm saying, getting outta the artist mode and going step back. I trust these guys enough. You know what I'm saying? Not, they're not gonna make me look bad, let alone make themselves look bad cause they're part of this. This represents them as well. [00:10:15] Dan Runcie: Definitely, definitely. And if we fast forward a few years, here you are now you have R.H.Q Entertainment, you recently have the joint venture launch with Venice. Shout out, uh, Troy and Susie, the folks over there. Talk to me about this. What's the vision for that joint venture? Where are things going? [00:10:33] Rich Homie Quan: Oh man, where are things going? I think, uh, the world is starting to see, and we haven't even got started yet. That's the crazy part. Like we haven't even got started yet, but like, you know, it was one of those situations. The distribution was nothing I hadn't had. You know what I'm saying? So like I said, it's all about me, like always throwing new things and never want, try nothing twice. You know what I'm saying? Like I still don't know like what my future holds, but I just know like, man, Venice has just been such a tremendous help to the RQ brand and for what I got going on, it just fit perfectly. And it wasn't one of those, or we just jumped straight into it. I think like a big shout outta Red man. Cause red, like he did not give up man. And it might have took us six months to get everything just done the right way where everybody's comfortable. And most importantly, everybody wins, man. You know what I'm saying? Big shout out Detroit. I was just with him last night. He flew down here, man. It was tremendous. Every time I'm, I'm big on energy and energy last night. Created a crazy vibe, man. You know what I…

    Full show notes at the publisher

    Investing in Web3 Music with Coopahtroopa Nov 23, 2022
    Show notes

    Cooper Turley, better known as Coopahtroopa, is betting big on ushering a new generation of music. In September, he announced a first-of-its-kind investment fund focused squarely on web3 music projects and artists themselves. Coop Records raised $10 million and Coopah will be the sole general partner. He’s hesitant to call it just an investment fund though. That’s because Coop Records is also a record label and incubator. Coopah will invest directly into web3-native music artists in a “seed round” — turning emerging artists into venture-backed startups.Structuring an artist’s company is what Coopah sees as web3’s biggest opportunity: resetting ownership dynamics. NFTs are another vertical of the Coop Records fund, in addition to the seed-stage investing in both companies and artists. Coopah joined me on the show to give us an in-depth look at how Coop Records is eying its investment opportunities. Here’s everything we covered:[0:00] How Coop Records started[2:06] Focusing on emerging artists, not established ones [3:35] Coop Records’ investment thesis[7:24] Investing in artists during “seed round”[9:50] Structuring artists as a holdings company[11:40] What does an exit look like for artists investors?[15:00] Artists as CEOs[20:11] What makes a music NFT historical [22:28] NFTs as a replacement for masters and publishing[27:18] Accredited investors vs. fan investors[29:30] Artist success stories with community building on web3[31:40] Focusing on story when marketing NFTs[34:25] Optimizing for engagement not reach on social [39:24] How tokenization changes the artist-fan relationship [47:00] Predicting the year that music NFTs go mainstream [48:25] Coop’s big question for web3Listen: Apple Podcasts | Spotify | SoundCloud | Stitcher | Overcast | Amazon | Google Podcasts | Pocket Casts | RSSHost: Dan Runcie, @RuncieDan, trapital.coGuests: Cooper Turley, @CooopahtroopaDownload The Culture Report here: https://trapital.ck.page/a23b7a6a4aSponsors:MoonPay is the leader in web3 infrastructure. They have partnered with Timbaland, Snoop Dogg, and many more. To learn more, visit moonpay.com/trapitalEnjoy this podcast? Rate and review the podcast here! ratethispodcast.com/trapitalTrapital is home for the business of hip-hop. Gain the latest insights from hip-hop’s biggest players by readingTrapital’s free weekly memo.TRANSCRIPTION[00:00:00] Cooper Turley: And I think that gets to this artist development piece more broadly is that you're trying to start the process much earlier, much earlier than I think a lot of the major record labels are starting now. Because I think they often wanna see artists having some proven. Track record before they're willing to sign them.[00:00:24] Dan Runcie:Hey, welcome to the podcast. I'm your host and the founder of Dan Ruey. This podcast is your place to gain insights from the executives in music, media, entertainment, and more who are taking hip hop culture to the next level. [00:00:49] Dan Runcie: Today's guest is Cooper Turley, aka Coopa Troopa. He is the founder of Coop Records, which is a new venture fund, a 10 million fund that is focused on investing in the future of music, specifically in web three. He is someone that has made a name for himself as a thought leader in the space. He was involved with the Dow Friends with benefits and he's now started this fund to make economics better for artists and ultimately help them take more advantage of the opportunities that are around them. So we talked about a lot of it. We talked about how he views the space right now, why he started this fund, and what the fund's investing in. There are three main areas that we go into. We talk about investing in music startup. Investing in artist seed rounds and investing in NFTs themselves as an investible assets that him as a general partner and little Bited partners would wanna see returns from. So we talk about what the economics of that look like. I think that. Cooper stands out in a lot of ways because he has a much more nuanced understanding of how Web Three fits in with the broader ecosystem of what's happening right now in music, what some of the trade offs are with the financials, the relationship with fans, what services it offers versus the traditional record labels and more really insightful conversation, and I hope you enjoy it. Here’s our chat.[00:02:07] Dan Runcie: All right. Today we're joined by Coopa Troopa who just launched Coup Records, which is his fund that is investing in the future of music and Web three specifically. And first off, congrats. I saw the announcement, it's really dope. So walk me through the process from thinking about you wanna start this fund to where you are now, today with it.[00:02:28] Cooper Turley: Absolutely. Well, first of all, thank you for having me. I'm really excited to be here. I've been in music for the last 10 years in crypto for the last five, and so I've seen everything from ICOs to Defi, to Dows, and not most recently NFTs. You know, throughout that time I've been active across public markets as a trader, behind the scenes, as an angel investor, as a community builder, and as an operator. And when I started to think about how to connect all the pieces together, I've always been a fan of music. I felt like there was never really a clear vehicle to help elevate and amplify the space. And so I found coop records to be the best way to really just zoom in on this niche that I'm so excited about and figure out how to really help the founders, artists, and builders that are supporting this space everyday.[00:03:05] Dan Runcie: Makes sense. What were the conversations like getting buy-in from LPs?[00:03:10] Cooper Turley: Basically helping to explain what music NFTs are, why this is a vertical that you'd wanna invest in at this time and day? You know, historically I think that music has gotten a bit of a bad rep, cuz it's very antiquated in a lot of ways. You know, there's a lot of systems that are very complicated and hopefully we can unpack some of those on this episode. But, I think we through presents a new opportunity for artists to monetize in creative ways. You know, as someone who's been a curator my whole life, it's very easy for me to understand the value of investing in songs, artists, et cetera. But for someone who's not music savvy and not passionate about this sector, you know, the majority of those conversations are why would anyone wanna collect a song? Why would someone wanna invest in an artist? And trying to help people understand why there's an opportunity here that I think is. Influential and paramount for the next chapter of music. But once people get over that line, you know, I've kind of been able to build a brand for myself that I think speaks very clearly to why I'm so excited about music. And so for investors that are looking to get exposure to the space, coop records is a great way to get that exposure without them having to get as deep in the trenches as I am.[00:04:07] Dan Runcie: Right. And I gotta imagine that that probably took a few conversations just given things that I'm hearing too, from folks. People, they understand the promise and the opportunity of what NFTs and what web three offer, but there's. Hesitation, there's still perception about what's going on and some of the headlines that people see. How did you communicate or address some of those concerns while still sharing the value add for what you have? [00:04:32] Cooper Turley: Yeah, I really focus on emerging artists. You know, I think that this is where the vast majority of value will accrue over the next couple years with Web three. And so when you think about investing in music, most people's mind goes to like, how do we get Drake to drop NFTs? I actually don't really focus on that at all. Instead, I think about how do we develop the next act that becomes Drake using Web three tools? And so for investors that are kind of hesitant about getting involved in the space, I point out early examples like X copier people, you know, crypto artists who really made a brand and a name for themselves on the back of selling their nfts. And obviously in the case of people, he had a major brand before, but it wasn't until the existence of NFTs and sort of these community based assets that they started to see monetization aspects with their fans and with their collectors. And so trying to highlight that there's an opportunity here to develop and support emerging artists new to Web three through music, I think it really made a clear case that. This isn't about trying to get your biggest celebrity to drop NFTs. I think that will happen at some point in time. But this is about investing in the infrastructure and the artists that are going to make this space very valuable over the next couple years.[00:05:31] Dan Runcie: And one of the things I like too about how your fund is structured or reminds me a bit of Matt Pinkus and how his music fund is structured. It's not just focused solely on startups that are trying to build the next tech platforms. You're also looking more broadly. The NFT space itself and what that opportunity looks like and it'd be great to break each of those down. So let's start first with the music tech companies, cuz I know that's 85% of your fund looking at preceded seed stage companies. What's your thesis for the type of company that is a coop records company that you're looking for? [00:06:04] Cooper Turley: I'm a really big fan of composability. So in Defi there's this concept of money Legos or protocols and platforms that could plug into one another. I believe the same thesis will play out with music, where we're gonna have music legos, where there's different marketplaces, service providers, tooling, infrastructure that can help sort of amplify what an artist can do with Web three. And so when I think about investing in a music tech company, I think about culturally, is this company aware and active within the pocket that I'm spending a lot of my time in? And then beyond being aware of sort of the artists, the songs, the type of platforms that are doing well in this space, do they have the open mindedness to wanna work in collaboration with those other platforms? So in accurate, we can kind of create this toolkit in this stack where if I am an artist who's new to web three, it's not about choosing Spotify versus Apple, it's actually about trying to develop a presence across many platforms. And hopefully those platforms. The life of the artist easier by making everything connect together with one another.[00:06:56] Dan Runcie: And I feel like this speaks to one of the broader themes that I know you've talked about before, is. It can't be this approach of web three versus web two. These things need to be collaborative. No more zero sum games. How can you think more broadly about the opportunity there? How do you view that more broadly, not just with the fun, but also likely how you're seeing the space with any artist that you're working with too?[00:07:21] Cooper Turley: I'm really laser focused on web three platforms because I think there's a lot more room for change within those platforms. You know, I have nothing against legacy platforms like Spotify have done fantastic work for artists and I think there will be at a time and day when they're able to enable music, NFTs to be purchased, collected, listened to within their platform. But the reality is these companies are so sophisticated that trying to move the needle is very complicated. And so for someone like. I'm running this fund as a solo gp. It's a relatively small fund, and so when I think about where I can have impact and leverage, it's typically working with very early stage founders. You know, I can get in the trenches and help to develop the product. Think about how we're onboarding artists, think about new marketing strategies. And so for me, I think right now it's about cementing the cultural relevance and value of this emerging wave of Web three music. And once that's been clear and established, we can take those same values, ideas, songs, artists, and help to bring those into the traditional industry in a more clear way. Because right now I think that a lot of the bigger players, let's call it major labels, et cetera, they recognize that there's value to be captured in Web three, but I don't think that they have the same level. Boots on the ground cultural awareness that maybe someone like, um, myself or some of my colleagues have. And so I think the challenge here is a, making it very clear what that culture is so you can start to translate it to larger players. And then once that they agree there is something of value there, you know, being able to act as a connector where you can say, Hey, maybe instead of going and doing a 500,000 or a million dollar drop for the biggest act on your roster, let's go ahead and find an emerging artist who's curious about the space and develop them with the course. Five or $10,000 drops and instead really build that community and that collector base in a very organic way.[00:08:56] Dan Runcie: And I think that gets to this artist development piece more broadly is that you're trying to start the process much earlier, much earlier than I think a lot of the major record labels are starting now. Because I think they often wanna see artists having some proven. Track record before they're willing to sign them. And in some ways your approach isn't too much different. Maybe it's just a bit of a different stage because one of the other areas that you're investing in is artist seed rounds. And can you describe. What stage an artist would have to be in order to be at the seed round, and what types of things you're looking for there from an artist?[00:09:33] Cooper Turley: I think it's very similar to what I look for in companies. You know, has this artist been able to prove a little bit of traction? You know, have they demonstrated that they're culturally aware of where this industry is headed? You know, different things that I feel like are interesting to kind of describe. Cause it's not very concrete. Like you can't point to like a specific amount of sales or a specific amount of volume and say, okay, this artist is ready to be invested in. But it's really just a development process of like, is this person making web three a focal point in their career? I believe that that's something really important for me personally, cuz that's where I had the most leverage. But once they've demonstrated that they've been able to release on some of the bigger web through platforms, you know, once they've been able to collaborate and onboard other artists to the space, you know, you start to see that these people have like a little bit. Leverage was sort of their career. And at that point in time, instead of signing a traditional record deal, co records can really be the one to say like, Hey, let's go ahead and set up a company for you. Let's think about how we wanna do a cap table. Let's bring on some partners to give you the capital that you need to go and hire a team around you. So instead of selling your next three albums to a major label, you can instead fund this through accredited investors. And then over time think about the ways you wanna bring other partners into the fold, but not need to be so reliant on the capital to do that in the first place.[00:10:38] Dan Runcie: And with the artists specifically, cuz I know that you've started the fund. Maybe for the people listening, is there a particular artist that you have made a…

    Full show notes at the publisher

    What Spotify and YouTube’s Billions Playlists Tell Us About Streaming Nov 17, 2022
    Show notes

    Today's episode is a two-parter. Part 1 is on Spotify and YouTube’s billion streams and views playlists. After reviewing both lists, there’s a lot to learn about the streaming era and the strategy for both platforms respectively. I broke it all down with Tati Cirsiano, a music analyst at MIDiA Research.Spotify’s list is more reflective of passive consumption. Spotify’s top-performing songs are more correlated with radio hits than YouTube, which is a more active consumption experience.YouTube’s Billion Views Club has more international stars than Spotify. With streaming continuing to grow across the world and plateauing in the United States, YouTube’s list more reflects future music consumption. Part 2 is with Glenn Peoples from Billboard. We talk about its new Global Music Index that takes the publicly traded stocks from the biggest music companies in music to give an overall picture of stock performance for the industry. Here’s everything Tati, Glenn, and I covered on the show:[3:03] Immediate takeaways from each Billions Club playlists[5:15] How “meme traffic” impacted both platforms[9:37] Passive consumption vs. active consumption[12:11] International differences between Spotify and YouTube[14:57] The Justin Bieber conundrum [16:36] How Spotify and YouTube enable fragmentation of fandom[21:26] Gym-going and seasonality’s impact on streaming numbers[26:14] Short-form videos eventual effect on YouTube streaming[27:55] YouTube vs. Spotify competition intensifying [35:58] MIDiA’s upcoming predictions report[38:33] What % of the Global Music index Spotify takes up[39:23] Why music industry stocks fell further than the overall market[46:25] Streaming platforms increasing prices[50:22] What goes into calculating Average Revenue Per User for Spotify[55:23] Spotify’s podcast strategy & acquisitions[59:18] How much of Trapital’s audience comes from Spotify[1:02:53] Why TikTok should launch it’s own streaming service[1:09:39] What Glenn expects 2023 to look likeListen: Apple Podcasts | Spotify | SoundCloud | Stitcher | Overcast | Amazon | Google Podcasts | Pocket Casts | RSSHost: Dan Runcie, @RuncieDan, trapital.coGuests: Tati Cirisano, @tatianacirisano, Glenn Peoples, @theglennpeoplesDownload The Culture Report here: https://trapital.ck.page/a23b7a6a4aSponsors:MoonPay is the leader in web3 infrastructure. They have partnered with Timbaland, Snoop Dogg, and many more. To learn more, visit moonpay.com/trapitalEnjoy this podcast? Rate and review the podcast here! ratethispodcast.com/trapitalTrapital is home for the business of hip-hop. Gain the latest insights from hip-hop’s biggest players by reading Trapital’s free weekly memo.TRANSCRIPTION[00:00:00] Tatiana Cirisano: Spotify's list is more of an accurate reflection of what the passive majority listens to, whereas YouTube is more of a reflection of what people are actively fans of and actively engaging, which is interesting because that was a question that we asked in our last episode where we were like, how do we measure, like, what are new ways to measure consumption? And I said, well, it'd be interesting if we could actually measure, you know, active consumption versus passive. And now here I'm looking at these two lists, I was like, oh, this is actually potentially an example of that.[00:00:37] Dan Runcie: Hey, welcome to The Trapital podcast. I'm your host and the founder of Trapital, Dan Runcie. This podcast is your place to gain insights from executives in music, media, entertainment, and more, who are taking hip-hop culture to the next level. [00:00:57] Dan Runcie: Today's episode is a two-parter. We normally don't do two-parters, but these topics were so closely linked, it made perfect sense, so we had to do it. The first part of this episode is a conversation I had with Tati Cirisano from MIDiA Research, and we talked about the Billions Clubs. Spotify and YouTube both have their respective playlists that have over a billion streams and views respectively. So we talked about what can we learn from both of these playlists together. What does it tell us about the most popular songs that do well on streaming, but also what can it tell us about these two platforms individually? What are the differences between the two playlists? Are there certain songs that perform better on others versus that and why? And what that means more broadly for the sector, Just given how big these companies are. Second part of the conversation, I talked to Glen Peoples who works for Billboard, and he recently released this Global Music Index, which is a value-based index that takes the publicly traded stocks from many of the biggest companies in music, combines them, and gives us an overall picture of how we can look at the performance of the music industry, at least in the publicly traded companies. Hint, it's been a down year for stocks overall, so nothing too surprising there. But we talk specifically about Spotify, who stock is noticeably in a tougher place, at least from, where it was year to date compared to some of the other companies. So we talked about why that is, what to expect, and more. Really great conversations. Let's start things off with Tati. Hope you enjoy it. [00:02:31] Dan Runcie: All right. Today we have Tati Cirisano back with us from MIDiA Research and we're going to dive into the Billions playlists that are both from Spotify and YouTube. What a fascinating list that's like a tripped-out memory lane, telling you what songs are popular, but also how these lists are different. I feel like they both have somewhere between like 3 to 400 songs, but there's a whole bunch of different trends here. I know that we both have a bunch of notes here, but Tati, I'll start with you. What stuck out to you most when you were looking through these lists? [00:03:03] Tatiana Cirisano: Oh my gosh. So there's so many things. I guess I'll start with the things that stuck out to me that don't have to do with differences, but just stuck out to me in terms of just looking at both. And one was that I felt like there was definitely a dominance of songs and artists from the last decade and maybe even just the last five years, which was interesting to me because there's been such a debate recently about is old music or what we call catalog, which is often not actually old music. But is it sort of cannibalizing new music? Does new music have more to compete with? And that whole argument. So it was interesting to see that there actually weren't that many or weren't relatively as many older songs. I believe the YouTube Billion Views Club had, like, one song from the 70s. It makes more sense with YouTube. And I think YouTube had even more dominance with more recent songs. And that kind of makes sense because if it's visual-based, maybe some of these songs we don't have the music videos, or maybe they're not as good. But I thought that that was interesting just off the bat from both ways. [00:04:03] Dan Runcie: Yeah, I would agree. I think that YouTube's list did trend much younger, and there's a whole MTV effect of just what music videos look like then and now. But I also feel like what's important is with both Spotify and YouTube, that when these platforms accelerated in growth, a lot of the artists that were releasing music around those times accelerated and growth too. And I feel like I saw some trends there. If I think about YouTube and its rapid growth phase more so in the early 2010s. There were a few songs there that I saw, whether it was like a party rock anthem or songs like that, that streamed really well on YouTube. Still nowhere near a billion streams on Spotify. And I think on the flip side of that, on Spotify, there were a few songs that were in that late 2010s era when Spotify was in its rapid growth phase that weren't on YouTube's playlist. So that was one of those interesting things. Like, for example, I think Drake's song Nice for What, a billion streams on Spotify. It's in the Billions Club, but it wasn't on YouTube's list. And I remember that music video, I think it's at the skating rink and he has, like, Issa Rae and all these people in it. So there was definitely some influence of the platforms too. [00:05:15] Tatiana Cirisano: Yeah. And that reminds me, too, of with the influence of platforms, it felt like, there were, so okay on both platforms. I felt like there were a lot of songs that were driven by, like, a viral hit or a novelty, which kind of just goes to show how embedded music has become in, like, meme culture and social media and just like online culture in general. But it also, like, looking at the differences within that, it felt like, this is like, I mean, you'd need to do more of a real, like, study and look at the actual numbers on this, but just from scrolling over the list, it seemed like, more of the TikTok traffic is going to Spotify. Like, there were a lot of songs that had a billion streams that I just remember being moments on TikTok, like Dreams and the Roses, Imanbek remix, like those songs and many others had passed a billion streams on Spotify, but had not cracked the YouTube list. And then on the flip side, YouTube had a lot of stuff that was more, like, just these, memes about, I'm trying to think of an example, like the Dame tu Cosita song and video, like that. There were actually an abundance of songs on the Billion Views Club for YouTube that were linked to these videos, including Crazy Frog. [00:06:24] Dan Runcie: I saw that. [00:06:25] Tatiana Cirisano: It like that was just, like, that was a moment in time in meme culture that kind of preceded TikTok humor. I don't know, like you can almost track meme culture's impact based on these two platforms lists as well with TikTok driving more traffic to Spotify and sort of the old, almost like Vine humor going more to YouTube. [00:06:45] Dan Runcie: That point makes me think of two things I also saw as well. So I believe the first YouTube video that hit a billion streams was Psy's Gangnam Style. I don't think that song has a billion streams or anywhere close to that on Spotify's list, which I think speaks to your point about just the visual nature of that. And that of course is a pre-TikTok era. The other song I think that lines up with this a bit, and this is because of memes within the music video itself is Nelly and Kelly Rowland's Dilemma music video. That is the most popular YouTube video that Nelly has, and I'm pretty sure that Kelly Rowland likely has too. And it's because of this one scene in the music video where Kelly is texting on this 2002's phone and she has Microsoft Excel open, and that's what she's actually using to text. So they're both, you know, generating money. And Kelly was even talking about an interview semi-recently talking about, I didn't even know what Microsoft Excel was. They just told me to type. But over time, and now we obviously have a different relationship with texting. That type of event can blow up on YouTube in a way that not necessarily going to Spotify. [00:07:54] Tatiana Cirisano: Right. Like, there's an inherent difference in just what you're going to do on these platforms. Like, there's a number of reasons why you might look up a music video on YouTube. Maybe you like the song, maybe there's a celebrity cameo, maybe somebody told you that. It's a crazy, wild video and you're just curious. Like, there's a lot more reasons I think than there are reasons why you would stream a song. So that just by definition kind of opens up a lot of differences in these lists. [00:08:18] Dan Runcie: The other thing, too, that you mentioned earlier was the decades and how YouTube's list only had one song that I think that was before 1980 and there was only a handful even from the 80s and the 90s as well. And while Spotify had a bit more, I still think it was quite less. Last time I looked at Spotify's list, it was less than 10% of the 300-plus songs that were more than 20 years old. And I have to assume YouTube may be even closer to 94-96%. Part of that, I think, as you mentioned, is music videos, but I also wonder is part of it with Spotify having a bit more of a close link to radio play and just things that were popular on the radio at the time. Like for instance, a song like Goo Goo Doll's, Iris, that was on Spotify's list is not on YouTube's list. I don't necessarily think the song had like a memorable music video necessarily, but I think it's the audio of it, it makes people think of, you know, what was that movie that it was in? I'm trying to remember the movie that it was in. It'll come to me, but there was some 90s movie that was in, I'm drawing a blank on it right now. Oh, City of Angels. So it was in that, and then, but I just don't think that people, like, recognized the music video they would like, it wasn't necessarily this big, like TRL hit the way that like a boy band song was. [00:09:37] Tatiana Cirisano: I noticed the same thing where looking over Spotify's list, it felt very much like just a list of every radio hit of the past 10 or 20 years that it was really, really tied to that. And I wonder, like, this kind of brings me to another thing that I wanted to talk to you about with this, which is how my sort of theory with another reason that these are different is that Spotify's list is more of an accurate reflection of what the passive majority listens to, whereas YouTube is more of a reflection of what people are actively fans of and actively engaging, which is interesting because that was a question that we asked in our last episode where we were like, how do we measure, like, what are new ways to measure consumption? And I said, well, it'd be interesting if we could actually measure, you know, active consumption versus passive. And now here I'm looking at these two lists, I was like, oh, this is actually potentially an example of that. And the other reason that came to me is because at MIDiA, we've recently done a report on looking at different types of entertainment and how much of consumption is in the background of another activity versus focused. And YouTube, like, people that watch music videos on YouTube are much more likely to be doing that as a focused activity in the foreground rather than something in the background, which makes sense because it's visual, there's, you know, social features to it, et cetera whereas they're a lot more likely to just put on their Spotify music in the background of something else. So I wonder if that's also part of the reason that Spotify seems to have more of a tie to radio and those songs that were just kind of popular for everyone whereas YouTube is more what are the songs and artists and videos that people are like engaging with.[00:11:09] Dan Runcie: That's a good point. It makes me think, well, on the YouTube side, I'm much more likely to listen to a YouTube playlist run, right? Like, I normally don't do that when I'm watching YouTube. I know YouTube has playlist, but I'm more likely to put a Spotify playlist on, which speaks to that. And I know some of the stuff that you've researched and the team has researched on MIDiA as well, is just this whole nature of probably a bit more on the digital stream provider side, but how to measure active versus passive engagement of, or actually listening to a song. And maybe this is a closer way to get a gauge for that because, you know, especially when these artists have these big week sales that'll come out and we'll see the numbers come through, it would be great to know, okay, how many people said yes, I want to listen to this Taylor Swif…

    Full show notes at the publisher

    How a16z’s Cultural Leadership Fund Is Putting More Black Dollars in Tech Nov 10, 2022
    Show notes

    Megan Holston-Alexander is a partner at Andreessen Horowitz Cultural Leadership Fund. It’s the first VC fund that raised money exclusively from Black leaders — from entertainment to sports to business. The fund co-invests with a16z’s other funds and has raised more than $60 million across its three funds to date.The overarching purpose of CLF is to create generational wealth opportunities for Black communities. It’s a two-pronged approach. The first is getting Black dollars directly on the cap tables of high-potential startup companies. And the second is creating a pipeline for more Black talent at early-stage companies. Megan joined me on the show on the heels of hosting the first-ever Cultural Leadership Summit and announcing CLF III before then. Here’s everything we covered during our conversation:[2:39] Takeaways from the Cultural Leadership Summit[5:19] Building despite economic uncertainties [7:36] High-worth individuals also affected by macro economy [9:05] How has the Cultural Leadership Fund evolved?[14:54] Difference between entertainment and executive LP’s[17:16] Web3’s knowledge imbalance [19:16] Megan’s interest in DAO’s[20:58] Will CLF’s investment model change?[22:42] How CLF used relationships and trust-building to scale its operation [28:35] Megan’s vetting process with LP’s[36:02] How VC industry at-large can create more opportunities for black founders and talent [39:15] Has the Bay Area lost its monopoly on tech? [44:59] What CLF is focusing on in 2023Listen: Apple Podcasts | Spotify | SoundCloud | Stitcher | Overcast | Amazon | Google Podcasts | Pocket Casts | RSSHost: Dan Runcie, @RuncieDan, trapital.coGuests: Megan Holston-Alexander, @meghalexanderDownload The Culture Report here: https://trapital.ck.page/a23b7a6a4aSponsors:MoonPay is the leader in web3 infrastructure. They have partnered with Timbaland, Snoop Dogg, and many more. To learn more, visit moonpay.com/trapitalEnjoy this podcast? Rate and review the podcast here! ratethispodcast.com/trapitalTrapital is home for the business of hip-hop. Gain the latest insights from hip-hop’s biggest players by readingTrapital’s free weekly memo.TRANSCRIPTION[00:00:00] Megan Holston Alexander: What we hadn't considered on the executive side is, while the athletes and our kind of entertainers can partner on different things or, like, help them go into new markets, when it came down to, like, core operations or how you should run on your board, or how to think about hiring X, Y, and Z, our black executives, like, hold that information, like, in the palm of their hands. These are people who've been, you know, operators for 20 or 30 years, and so they brought kind of an additional level of skill and kind of insight to bolster what our other LPs on the more kind of athlete or entertainment side were doing. [00:00:40] Dan Runcie:Hey, welcome to The Trapital podcast. I'm your host and the founder of Trapital, Dan Runcie. This podcast is your place to gain insights from executives in music, media, entertainment, and more, who are taking hip-hop culture to the next level. [00:01:01] Dan Runcie: Today's guest is Megan Holston Alexander. She's a partner at Andreessen Horowitz, currently leading its Cultural Leadership Fund. And to date, this fund has raised over 60 million, invested in over 300 Andreessen Horowitz portfolio companies, and has brought over a hundred black leaders into this space. I'm talking to Megan right after the Cultural Leadership Fund hosted its first-ever in-person summit. It was a pleasure to attend that summit myself and meet so many of the people that are friends of the fund, LPs of the fund, and really make it what it is. So this conversation, we talked a little bit about what it was like bringing that event together, especially after the pandemic. We also talked about how events like that fit within the fund's overall strategy and how that strategy has evolved over the past few years. For a little bit of background, the LPs in the Cultural Leadership Fund are all black, and it is one of the first funds to have ever done that in the VC space, and specifically, to date, a lot of the investors had been athletes and entertainers, but Megan talked a little bit about how they've expanded to bring on more black executives, what that looks like, and how that ultimately helps support the goal of the fund even more. One of the fund's other goals is to increase the amount of black talent and interest in tech. So we talk about what some of the opportunities are, what some of the challenges are, and what the VC community can do to help improve this even more. Great conversation, so many insightful points that Megan shared. I enjoyed this conversation and I know you will too, especially if you are an investor or you're a founder yourself. Here's my chat with Megan. [00:02:39] Dan Runcie: All right, today we have Megan Holston Alexander from Andreessen Horowitz Culture Leadership Fund, and first, I got to say congratulations on an amazing summit. It was a great event to be a part of and to attend. How does it feel for you now being on the heels of that and just seeing the impact of everything? [00:02:57] Megan Holston Alexander: Yeah, so thank you so much for coming. It means so much that people would be interested enough and engaged enough to spend time with us away from their, you know, everyday grind. But we're really pleased with how it turned out. We were motivated because so many of our LPs had said to us, we want to get together, we want to meet each other, we want to meet the founders, we want to meet the investment team. So as an LP and kind of partner summit, I think it had the intended effect and it seemed like people really enjoyed their time, but also learned a ton. So I could not be happier. I will say I was telling myself that after it was over, I was going to have so much time to, like, get so much other stuff done, but, like, it just never, it never stopped. So, we were really proud of what we were able to put on.[00:03:38] Dan Runcie: 'Cause I'm sure an event like that makes you think about what else you could do, right? I'm sure you had a bunch of people buzzing with ideas on what other in-person events or what other things could look like, too. [00:03:48] Megan Holston Alexander: Yep. And that's always the hope, right? We bring people into a room together in hopes that, like, we can help some serendipity happen. So many people in our network work on similar things or adjacent things or things that would have a really nice kind of partnership together. And so anytime we get to make those introductions, our hope is that people will be buzzing after, and have ideas for events and programs and partnerships. So we'll see what comes out of it. [00:04:12] Dan Runcie: And I imagine that a lot of this probably had been in the plans for a while. It was just a matter of timing. So much of CLFs rise and growth had happened during the pandemic as well. And it was just a matter of, okay, when can you bring people together safely to make something like this happen? [00:04:28] Megan Holston Alexander: Yeah. Yeah. And when I say it was three years in the making. I am not kidding, because we were planning actually to host the first summit in 2020. So we were in process of like, you know, picking out venues and cities and where we wanted to be. And then, like, so many people when the pandemic hit that spring, it just kind of cleared everybody's calendars. And so it's nice to know that 2 and a half years after the original that the motive was still the same and the demand for what we were building was still the same that we got to put it on, I think, even better than we could have hoped in 2020.[00:05:00] Dan Runcie: Yeah, I agree. And then looking at, now, you, of course, get to have it on the tail end of your announcement for fund three. You've now raised over $60 million for this fund. What was it like raising in this climate though, just given where things are with the market and how things have been so far in 2022? [00:05:19] Megan Holston Alexander: Yeah, totally. Totally. So when it comes to like the market environment, you just never know what's going to happen and unintentionally, you know, I actually got to raise ahead of kind of the market changing earlier in the spring. And that was actually because I was expecting and planning to be a new mom. And the firm was really supportive of that. And they said, okay, kind of up to you. Do you want to do it before mat leaves? Do you want to wait until the fall when you come back? And me being like, I don't want to think about this while I'm trying to raise a baby. I was like, Let's knock it out early. So lucky enough, you know, I was able to close that out before people really started tightening their belts. But, you know, as a firm, we really believe that, you know, no matter what the economy looks like, what the macro, you know, face of the world looks like, builders are always building. And even more so, during times when they can be home and spend time thinking about the problems that they want to solve. And so our hope is that, you know, even in moments like that, we can still really rely on founders to keep, you know, pushing great, great companies out. [00:06:17] Dan Runcie: Yeah, and I like to think of these moments as well as when you do start to filter out some of the companies or ideas that maybe were a bit more fleeting, and you can focus on the real things happening, you look at the last economic downturn that we had, and all of the companies that came from that timeframe, too. So I feel like the call to action for so many fund managers like yourself, you mentioned the LPs or even to others is, like you just said, people are still building, and if anything, it's the real companies that are going to come out of this timeframe.[00:06:46] Megan Holston Alexander: Yep. And then a piece that I would add onto that is in these moments, while we know that like great companies will be built, we don't truly know what they are because people do build for the time and you don't know what kind of instances will be, like, permanent behavior changes or what things are like, just for now, it seems like it's a, you know, a really good idea, but in six months people won't behave the same way. And so the hope is that you just always try to lean in the things that you think will have kind of staying power. But you just try to do risk reduction. [00:07:15] Dan Runcie: Right, Right. And I assume, too, from a fundraising perspective with you and this fund specifically, because a lot of the LPs are high net worth individuals, some of their willingness to invest in funds hasn't necessarily changed as much as some of the more institutional investing in things that we've seen in the past year or so.[00:07:36] Megan Holston Alexander: Yeah. So actually I might argue the opposite. So when you're dealing with individuals, right, in their personal wealth and people who are really new to venture, right? That's a really, really scary moment because venture is a long-term play, right? It's not like you put your money in and then two or three weeks later, you can be like, Hey, Megan, where are my dollars? And so making a long-term commitment like that during a period of economic uncertainty is actually more difficult for an individual than it would be for an institution because one, it's not any particular individual's capital, but also institutions have much kind of more thorough game plans, right? They know what percentage they're putting into venture versus private equity versus, you know, bonds or whatever the case may be. So they're kind of more consistent and they understand that the market kind of goes up and down and that there will be moments like this, and it's actually a little bit more difficult when it comes to individuals to kind of get them over that hump.[00:08:30] Dan Runcie: Yeah, that's fair. Because I do think that even in some conversations I've had with folks, things like the price of Bitcoin or the price of Ethereum having a pretty impactful influence on what their net worth is and their own willingness to invest in particular things. [00:08:46] Megan Holston Alexander: For sure. [00:08:47] Dan Runcie: And for you with this fund, specifically, now fund three, but the fund itself has been around for a few years now. Do you feel like the vision for the fund has evolved at all in that time? I mean, I feel like the core mission is the same, but have any of the ways that you've either talked or pitched the fund evolved in that timeframe? [00:09:05] Megan Holston Alexander: Yep. So I think you're right. We've kept our two kind of core missions the same, but what we do understand now is there are a number of different ways to execute on it. So if you will bear with me, I'm happy to share kind of two, you know, how that looks on both missions. So on the first mission of connecting the world's greatest cultural leaders to the best new technology companies. You know, historically we set, you know, athletes and entertainers and musicians, people who, from, you know, a large scale of consumerism have contributed to cultural change. But over time we've realized black executives also have like a really, really huge impact on this space. So people who are in leadership roles at Fortune 100 companies, or even at startup companies, they can have a huge impact on culture and consumer behavior more generally. And so we wanted to be sure that we really leaned into bringing in more black executives into the fund than we ever had before. And that has proven to be really helpful for the firm because they end up being, you know, equally if not more useful to the portfolio than the musicians and the singers, and the actors, et cetera. And so we have really enjoyed kind of expanding and involving that side of the network. And then on the second side of getting more young African Americans in tech, you know, fo fund one, we committed all of our management fees and carried to, like, one set of organizations. We picked them in the beginning and wanted to support them through the life of the fund. But what we realized by fund two was like, well, that doesn't really give us an opportunity to invest in new non-profits that are kind of on the cutting edge of technology, right? As things are growing and changing, we want folks who are being innovative on the non-profit side as well. And so what we did for fund two and now for fund three is we opened up kind of the spectrum of what we would support from a non-profit perspective to kind of match where we thought the technology world was going. So for fund one, you see a supporting kind of big well-known organizations that have proven over time if they are directly putting black folks into the pipeline for technology. But now we're saying like, okay, how do we add to this? Well, Web 3.0 is a huge thing, not only as a space for investment for the firm, but also generally of wanting to be sure that black folks don't get left behind in this Web 3.0 revolution. So we support organizations like crypto tutors that is meant to do just that, and that's not something we would've had insight into in that first fund. Gaming is also a new, huge area in technology. It is now, I think, you know, people play games more than they watch TV based on current research. And so how do we ensure that black folks are being supported in the gaming industry? So now we support black and gaming. We support the Black Collegiate Gaming Association. So just ensuring that our philanthropic efforts can support and are aligned with what we're doing as a firm and where technology is going overall. [00:11:51] Dan Runcie: I actually…

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    The Culture Report, and DICE President on Making Music Ticketing Less Transactional Nov 03, 2022
    Show notes

    At the top of the episode, I talk about Trapital’s new Culture Report and our opening section on hip-hop’s “decline.” This report is sponsored by DICE, and it was a great chance to chat with DICE President Russ Tannen about the future of ticketing and live events.Russ moved to New York City in 2021 amid the pandemic with one lofty goal: grow the music ticketing platform’s business inside the competitive United States market. If that wasn’t challenging enough, this was all while live musical shows were still hard to come by. More than a year later, DICE is still in growth mode, not only in the US but with aspirations for other international markets too.Russ was a day-one employee of DICE when it started in 2013 in Europe. What separated the platform then — and to this day — is its laser focus on the music fan. Unlike its major competitors, DICE is as much a discovery platform as a point-of-sale. Using the app’s own internal data, fans are recommended local shows to attend. The recommendation system was created with the intent of improving the live music-going experience for fans. This same reason is also why the ticket price you see on DICE is the final price, no extra fees added at check-out. DICE tickets also can’t be resold outside of its app, ensuring true fans, not ticket scalpers, will have first access to see their favorite artists. Russ joined me on the show to discuss the inner workings of DICE, from the app’s unique benefits for fans, artists, and venues alike to its overarching growth strategy. Here’s everything we covered:[0:35] The Culture Report[13:01] DICE entering the US market amid pandemic[15:26] Competing against other ticketing platforms[19:58] Re-wiring consumer behavior around attending events[22:15] Prior partnership with Kanye West[23:37] Has there been any artist pushback?[25:16] Showing ticket price upfront, not at checkout[28:10] How DICE deals with ticket-buying bots[35:57] DICE’s investment in data science is paying off[35:37] Partnering with Ice Spice[38:21] Early signals that an artist is on the rise[40:22] Correlation between social media and streaming numbers on ticket sales[43:16] Differences in ticketing in US vs. other markets[46:18] Sales strategies for low-demand shows[48:46] DICE’s plans to tap more into Latin music market[52:27] Expansion is DICE’s primary focus in 2023Listen: Apple Podcasts | Spotify | SoundCloud | Stitcher | Overcast | Amazon | Google Podcasts | Pocket Casts | RSSHost: Dan Runcie, @RuncieDan, trapital.coGuests: Russ Tannen, @RussTannenDownload The Culture Report here: https://trapital.ck.page/a23b7a6a4aSponsors:MoonPay is the leader in web3 infrastructure. They have partnered with Timbaland, Snoop Dogg, and many more. To learn more, visit moonpay.com/trapitalEnjoy this podcast? Rate and review the podcast here! ratethispodcast.com/trapitalTrapital is home for the business of hip-hop. Gain the latest insights from hip-hop’s biggest players by reading Trapital’s free weekly memo.Sponsors:MoonPay is the leader in web3 infrastructure. They have partnered with Timbaland, Snoop Dogg, and many more. To learn more, visit moonpay.com/trapitalEnjoy this podcast? Rate and review the podcast here! ratethispodcast.com/trapitalTrapital is home for the business of hip-hop. Gain the latest insights from hip-hop’s biggest players by reading Trapital’s free weekly memo.TRANSCRIPTION[00:00:00] Russ Tannen: At one point I was booking in London a 150-capacity venue, and I thought it was amazing when 400 people would show up for the hundred 50 capacity show, and we try and cram them all in. And I always saw that was an amazing sign. Those shows were always free, but obviously, now we are ticketing around the world, many of the best 100 to 200-capacity venues that exist in some of the best music cities in the world. So what's fascinating for us is to not just be speaking to the people that are running and booking those venues, but to be looking at the data of, okay, which shows sold out on and out at that level, and who's got the biggest waiting list at that level. And we see a complete global picture of that.[00:00:42] Dan Runcie: Hey, welcome to The Trapital podcast. I'm your host and the founder of Trapital, Dan Runcie. This podcast is your place to gain insights from executives in music, media, entertainment, and more, who are taking hip-hop culture to the next level. [00:01:02] Dan Runcie: Today's guest is Russ Tannen. He's the president of DICE, which is a ticketing platform for live events that's working to make ticketing fairer for fans of live music. They're also working to make sure that there's personalization, so that fans have a better understanding for the music and the concerts from the people that they want to be able to see. And they've been using a ton of analytics to address some of the challenges that the live entertainment industry has faced over the years. DICE is one of the presenting sponsors for Trapital's 2022 Culture Report that is out and available. You can get that on the Trapital website or if you're on the email list. And it was great to talk to Russ about some of those findings and also get a better understanding for the main problem that DICE is trying to solve. There are several aspects of the live ticketing business from scalpers and bots that are raising prices, with artists and fans not necessarily being able to have the most direct connection possible, and fans not always necessarily knowing what concerts are in their area, other people that they may want to see, and being able to get personalized recommendations there. So Russ really brought us under the hood, painted us a picture of what the events business looks like. This is a company that started in the UK, was able to get a good amount of market share there, and is now expanding into the US. So we talked about how they're focused on the venues, specifically, that have capacity from 200 people up to 10,000, what that looks like, what the opportunities are, what some of the challenges are, and what he's ultimately looking forward to most. Here's my chat with Russ.[00:02:36] Dan Runcie: All right. Today we have Russ Tannen, who is the president of DICE, a company that is on a mission to help solve a number of the challenges right now in the ticketing and live events business. And I give you a lot of credit because this is a difficult business for a number of reasons, and you're entering a US market where I think there's so much opportunity for improvements with things. So it would be great to hear from you all, and for the folks listening, what your strategy is and why the US market's been so important for you.[00:03:08] Russ Tannen: Thanks Dan. Thanks so much for having me on. It's really good to meet you and to get a chance to have this conversation. I don't know why you think it's difficult. It's it's been so straightforward. It's been such a breeze the last nine years. No, it's definitely complicated. Before we jump into it, and I do want to tackle that one, I wanted to ask you a question first actually. What was the first concert you went to, Dan? [00:03:27] Dan Runcie: Ooh, the first concert I went to. So I am Jamaican and my parents are Big Harry Belafonte fans, so I must have been nine or so, and we all went as a family to a Harry Belafonte concert. I grew up in Hartford, Connecticut, so he had come through, so that was the first one. [00:03:44] Russ Tannen: Wow. What was the first one where you, like, bought a ticket or you were, like, going with your mates and you were, like, excited to go? [00:03:49] Dan Runcie: Okay. The first one where was actually, like, me going, it was a 50 Cent concert. He had come through, they had this concert venue, the Meadows in the Hartford area. So, yeah, we went to that. This is like right when he had, like, blown up. [00:04:00] Russ Tannen: How was it? Amazing? [00:04:02] Dan Runcie: I mean, at that age, it was amazing. I thought that it was the coolest thing ever. I mean, this was the person that everyone was talking about, Oh, you know, he got shot nine times. He's this mythical legend. And then you get to see him in this venue. And of course, you're also, you know, you're young, you're with your friends, you're finally, like, getting out, like, people are finally starting to go different places. So I really enjoy that. And yeah, I mean, that was with my own money for the first time.[00:04:25] Russ Tannen: Yeah. I love thinking about those memories. I found a picture of me going to my, like, first proper concert, which is, like, I used to have hair, obviously, when I was a teenager and it was, like, dyed green, and we were going to see Deftones and Linkin Park play. They were playing in London. And I remember just being with all my mates going, it was like the most exciting thing ever to, like, go to that show. And I love like, thinking about those things and that feeling and that emotion 'cause I think, like, if you have, like, a really amazing experience early going to a concert and feeling all of those emotions about going to see live music, then it can really stay with you, like, your whole life. And I think a lot of what we're trying to do and what we're trying to capture is that feeling for as many people as possible and to get more people having those types of experiences, like, more of the time, really just spending less time at home. Like that's what we're really, that's what DICE is all about. Like, more than being an app or being a company or all the other things that we're doing, like, it's really, like, how do you get more people to feel like they're going to the 50 Cent concert and just, like, this is it, like, but thanks for sharing that. [00:05:26] Dan Runcie: Oh, definitely. [00:05:27] Russ Tannen: Yeah, I moved to the US in April last year. So I'm joining on the call from New York at the moment. And we already had a presence here. We'd been building up the business in LA for a few years before, and obviously, the pandemic hit. And I think coming out of the pandemic, we realized that there was an opportunity to start working with a number of partners in New York and really focus on our growth here and building out a team. So when I got here in April, there were three people on the team here. We've built that out to 70 people in this office and a hundred people in the US team overall with other little posts in Miami and Nashville as well as the team in LA. And, yeah, I think it's an extremely competitive market, obviously, but I also think that one of the great things that the pandemic really showed us was just how big and how strong the independent music scene in the US really is. And a big part of that, I think, was the work that Dayna Frank did and founding NIVA and really uniting all of those independent venues together to lobby for the grants that they got to keep the businesses going. And I think that that was just like a really interesting thing t o come out of it and something that will go on for a long time and last for a long time. Now, that organization, and I think it helped to show everyone, you know, how strong the independent music scene is here and what a large opportunity for a company like ours that works only with independent venues and promoters has to build, you know, a very big business here, too, and to support all the artists that are playing in those venues. So we really focus between. 200 - 10,000 capacity. Those are the types of venues we work with. And for people that are listening that don't know what DICE is, you know, we're a mobile event discovery and ticketing app that's working directly with venues and promoters to, you know, increase sales for those shows and to do all the things you'd be expecting a ticket company to do. So, yeah, but that's really where we play. It's a very competitive space, but it's a bit different to thinking about arenas and stadiums and you know, maybe that part of the live business. [00:07:19] Dan Runcie: That makes sense. I do think that, of course, that you have, whether it's ATG or Live Nation, having those arenas and stadiums and a lot of the partnerships there, the independent opportunity is much more flexible and I think there's less pure ownership there from a lot of the big players, but I do know that there's still competition from, whether it's your folks like Eventbrite or others. How have you been able to work and gain market share given that dynamic with some of the other players from that 200 to 10K capacity venue? [00:07:51] Russ Tannen: Yeah, I think that we've been going for nine years now. And we had originally worked as promoters, we'd also run venues. We were working in artist management before starting DICE, and I think we had a number of different perspectives from day one in building the company and the kind of foundational things that we focused on were probably a little different to someone who's maybe more coming from a technology background and seeing a market opportunity and looking at how to build for the venue client. Whereas we always kind of still had a management hat on the whole time. And also we're really thinking about how to build for the fan, and we've had this kind of laser focus on building for the fan experience and that started all the way back with making it a completely mobile product, making the actual purchase of the ticket extremely easy, always showing the full price upfront so you don't get that sticker shock at the end of the purchase when it's suddenly more expensive, stopping the tickets from being sold on resale, introducing functionality like the waiting list where if a show sells out, you can join a waiting list and if tickets get returned to that waiting list, you can just pick them up at the same price. All these things that we did very early that just built a lot of trust very quickly, I think, with fans to become like their preferred platform for tickets and then through time thinking even more about social functionality connecting with your friends. We talk to fans all the time and fans would tell us the number one reason that they wouldn't buy a ticket for a show would be that they wouldn't know who to go with. But we would know that from all the fans that we had using the product, that there must be some that were already friends. So we made it so you could connect with your friends through the app, through your contacts, and then on an event level, you can actually see who from your friends is going to the show, who's been to see that artist before, who's saved that event? You can also go on a view where you can just pick, so me and you could pick this page where it will show us events to go to together based on both of our musical tastes and shows we've been to before. So there's all these things that we've built that are really just nothing to do with the person sat at the venue who's the ticketing manager, and they're all about the real end consumer being the fan. And I think that's just been a different approach to most ticket companies in the US previously that have built been more transactional. And so when we pitch, it's all about how do we actually significantly change how people are discovering the events at the venue and how do we increase the number of shows that they're going to by focusing all of their experience on the actual ticket purchase. And that's really paid off and that narrative is paid off. And when we think about a city like New York, where, you know, last when I got here, it was still events weren't happening. So obviously, you know, the number of users on the app was extremely low. We only had a fe…

    Full show notes at the publisher

    How HitPiece Rebounded and Relaunched After Controversy Oct 27, 2022
    Show notes

    Rory Felton has spent most of his past two decades in music being pro-artist. He developed talent and sold millions of records under his Militia Group label that he co-founded and eventually sold to Sony. In the early days of social media, Rory worked with Top 40 artists and majors to monetize on these new platforms. That’s why it was ironic that Rory was recently criticized for being anti-artist. Rory founded HitPiece two years ago. HitPiece is an NFT marketplace focused solely on music collections. While in beta earlier this year, unauthorized NFTs from big-name artists became available for purchase on HitPiece. HitPiece was hit with wide-spread backlash from artists, the RIAA, and many others for copyright infringement. The company quickly went dark while the team recalibrated its business.Months later, HitPiece has now re-launched. This time with strictly-authenticated collections on-site from rising artists like ATL Jacob, Pyrex Whippa, and proven commodities such as Rick Ross. A metaverse add-on is also in the works to virtually display purchased NFTs. In many ways, the industry-wide blowback changed both Rory and HitPiece. The company’s intent has stayed consistent from the get-go: to make NFTs easy for both artists and fans.Rory joined me on the show to cover what went wrong with HitPiece earlier this year, why this relaunch is different, and the opportunities and challenges NFTs have inside the music industry. Here’s everything we covered:[2:58] Rory’s two decades in the industry pre-HitPiece[6:07] “Best time in human history to be an artist” [9:19] What went wrong with HitPiece’s beta release[13:33] Re-gaining industry trust after the backlash [16:22] Did HitPiece consider rebranding?[19:12] How HitPiece built a collection with rising star ATL Jacob[20:27] Web3 co-existing with industry, not replacing it[27:34] Building out a music-centric metaverse [33:32] How HitPiece will compete against Facebook, Opensea, and other big players[35:57] Types of NFT collections on HitPiece[39:00] How to win the music industry in 2022 and onward [43:17] HitPiece plans for 2023Listen: Apple Podcasts | Spotify | SoundCloud | Stitcher | Overcast | Amazon | Google Podcasts | Pocket Casts | RSSHost: Dan Runcie, @RuncieDan, trapital.coGuests: Rory Felton, @RoryfeltonSponsors:MoonPay is the leader in web3 infrastructure. They have partnered with Timbaland, Snoop Dogg, and many more. To learn more, visit moonpay.com/trapitalEnjoy this podcast? Rate and review the podcast here! ratethispodcast.com/trapitalTrapital is home for the business of hip-hop. Gain the latest insights from hip-hop’s biggest players by readingTrapital’s free weekly memo.TRANSCRIPTION[00:00:00] Rory Felton: We think this space is for everyone. And we think that the smallest artists on the planet can actually benefit from Web 3.0 in a way that maybe streaming isn't changing the game for them right now. For instance, we've worked with baby developing artists that are making more money from Web 3.0 in one launch of an NFT collection than they would over two to three months from streaming. In general, we all think music's the coolest thing in the world. And so we want to revalue it in a way that maybe NFTs allow us to that technology hasn't enabled in the past.[00:00:40] Dan Runcie: Hey, welcome to The Trapital podcast. I'm your host and the founder of Trapital, Dan Runcie. This podcast is your place to gain insights from executives in music, media, entertainment, and more, who are taking hip-hop culture to the next level. [00:00:60] Dan Runcie: Today's guest is Rory Felton. He is the co-founder and CEO of HitPiece, a company that's bringing artists and fans together through NFTs in real life experiences, metaverse experiences and more. HitPiece is one of our sponsors this quarter for Trapital, and I wanted to have this conversation because Rory and HitPiece have had a very interesting past couple of months. Back in February, they launched a platform, but there was a ton of controversy surrounding it because a lot of artists had their music and their NFTs for sale on the platform without their consent, and understandably so, it created a bunch of frustration and news around some of the consent around NFTs, some of the perception around the space overall and how that impacted Rory and the team. So in this conversation, we talked about it. We talked about how that happened, why it happened, and what Roy and the team are doing now moving forward for that not to happen in the future. And then we talked about what does HitPiece look like now moving forward, what are the opportunities more broadly for Web 3.0 companies in music, what are some of the challenges, what are some of the artists that they're working with now, like ATL Jacob, who just signed with Republic Records. So we talked about that, and Rory has a ton of experience in the music industry, even before HitPiece. So we talked about how that shapes his current strategy and what he thinks successful look like, not just for HitPiece, but for the overall industry moving forward. Great conversation and tons of insights, and especially for a lot of the founders that have built stuff messed up and want to hear what it's like to keep things going. This is a good one to listen to. Here's my chat with Rory. [00:02:39] Dan Runcie: All right. Today we are joined by Rory Felton, who is the co-founder and CEO of HitPiece. But before we talk about HitPiece or anything like that, I know you've worked in music for a number of years and you've had a few different hats in this industry. What attracted you to the space early on? [00:02:58] Rory Felton: Oh, man. So when I was 15, I started playing music and I learned pretty quickly that I really couldn't write songs very well. So when I was 16, I started putting on local shows for artists booking regional acts, and that naturally turned into putting out records for artists. And in the nineties, we were manufacturing CDs, so I actually learned the process of printing, shipping it to a factory, calling distributors, trying to get them to ship out our CDs to retailers. And that's how I started. In 2000, I moved out to LA to go to school at SC, was a little bored and started another record label. Our first few records did quite well. I think our first record almost went gold, and so that created enough revenue to really fund the company and grow that record label. And for the next 10 years, we ended up selling millions of records. I developed dozens of artists, felt really proud of what we accomplished. Sony Music later invested in the company and later acquired the major artists that I worked And I took a breather for a moment because working with artists can be a lot of work and can be emotional and and challenging in so many ways, but also fun and exciting. And I ended up finding a real passion for the technology side of the music industry. I really wanted to have sort of a macro impact on the industry in helping artists create new technologies to connect with their fan base, develop new business models. And I saw, sort of saw the old record company structure or record deal structure is sort of a little bit antiquated, and there are so many technologies here that could allow artists to directly connect with their fans and connect and create new and unique revenue streams. And so I spent several years in the early 2010s helping top 40 artists sell music and merchandise in stream on social media like Gaga, Green Day, Snoop Dog, Tim McGraw, A$AP Rocky, all the major labels. And I did a couple years overseas on a volunteer trip and then came back to the music space really on artist management initially, but also in blockchain. I bought Bitcoin in 2014 and was always really curious about blockchain's application to the music space. And in 2018 I co-wrote a white paper on digital collectibles for artists and could not get anyone's attention back then on this space and the idea of fans buying digital merchandise from artists and connecting with them and the idea of an artist creating a layer of community ownership and what they were doing. And then obviously fast forward a couple of years, the NFT space, that specific protocol has really taken off four creatives and four artists. And I decided to jump in full time to apply this innovation to the music industry 'cause I saw so many opportunities for artists to take advantage of it.[00:05:43] Dan Runcie: That makes sense. And one thing there before we get to the HitPiece part of it where you are today, selling your record label and everything there to Sony, what is it like watching the current movement now with other record labels being bought up by other record labels, especially the majors or just some of the catalog purchases there? Because I'm sure you did this in a very different market than what we're seeing now. [00:06:07] Rory Felton: Yeah, so a lot of people don't remember this, but in 2006 to like 2011, it was really hairy for the record industry. There were a lot of unknowns. Downloading was here, digital like iTunes and its competitors, however, streaming as a paid streaming format really hadn't taken off or really been fully established. And so you had these massive problems still with file sharing and people just assuming music was free, right? And just downloading it without paying for it from all sorts of websites. And so there was this moment, an era where like, gosh, golly, we don't know if these major labels are really going to figure it out. And kudos to them, they struck some really savvy deals and made streaming something that really, really worked. So today's era has been amazing. I get really excited for artists that are able to have huge liquidity opportunities if they've built a catalog over their lifetime. And then also I get really excited just as more opportunities to finance your career than there ever have been. You can now borrow against your catalog. You can borrow against your master rights or publishing rights to fund something you want to do moving forward. You could never do that 10 or 15 years ago. So you have players like that in this space. You have distributors in this space, almost playing like record labels and advancing monies to artists, but allowing artists to keep their masters. And then you have record labels sort of playing as distributors. And so you have all these middle men kind of playing as different roles. And I think it's great 'cause artists have more opportunity now than they've ever been. I've been saying this for a few years. It is the best time in human history to be a music artist. It was so hard in the nineties and so hard in the early 2000s to stand out, and now even though we are in some economic challenges right now, and just the macro economy, it's still really the best time in human history to be a music artist. [00:07:59] Dan Runcie: Yeah, I think that's generally where I land with this too. I know that there's a lot of people that have a bit of the nostalgia and yearning for being able to sell CDs and being able to make the money off of CDs, but it was still a market that had tons of gatekeepers. And even without Napster, I still think that there would be a lot of challenges 'cause there were a bunch of CD sales that were of bad catalog that weren't exactly of new things, but we could go all day talking about that. But it was a fascinating time for sure. But fast forwarding a few years though, with HitPiece, of course you have the idea and you see the opportunity to be able to make it easier for artists to monetize and take advantage of what's here. And I know that earlier this year, the launch day didn't go the way that you had wanted it to. And there was a lot of press and some negative things written about just the intent and where you all were trying to go. And I know that there are also a few artists too, whether it's like Jack Antonoff and a few others that had some complaints about how it went down and after reading a few of those, I definitely saw some of the responses and from your perspective as well, but I never really got a good, clear sense for what was the . Intent and what would this have looked like if the launch had went as well as it could have, so it'd be great to hear a little bit about that, because I feel that's the part that was a little bit missing in some of the discussions about what had happened. [00:09:19] Rory Felton: Yeah. So first and foremost, I really believe in innovation, and I really believe in enriching artists, and artists being able to control their music and what they're doing. And so we were looking at this space and thinking about like, man, if I put on my music fan hat, what's the ideal experience I want as a music fan? What would I love to have more than anything? And platforms like Spotify and Apple Music has sort of trained us to feel like everything could be in one place. And so we put together this idea to create an experiment where we tried to show artists and labels and rights holders, hey, this is what the future could look like. Here's sort of this private game experience that we think would be really fun to onboard a huge number of people into this space very quickly and create a massive revenue stream for artists and rights holders. And where we really messed up is we failed to put the proper guardrails around it to where too much of it was public too fast. And that was something that we definitely messed up with. We were having active discussions with hundreds of artists, managers, major record companies. We had showed them what we're doing. Hey, what do you think of this experience we're creating? And all the feedback that we received was highly positive. Everyone was really excited about this potential future for a platform that could turn on a whole new revenue stream for them without a lot of work. One thing I've experienced as a manager and a record company founder is that artists are so busy. They're in the studio making music all the time. They have to go on tour, they have to make content for social media all the time right now. They're so busy doing all these things you don't want to add just another thing to their plate. And so we've always tried to make it, what's the easiest way for them to onboard into a new space without having to create a huge amount of work for them? So that was our intent. Clearly, we failed to have the proper guard rails around it. And we took down the beta after a few weeks. And there were obviously some artists that expressed some frustration with it. And since then, we've had conversations with hundreds of artists and labels and managers and industry leaders, sharing with them how we feel about this space, what we think is coming, and the overall sediment has been really about excitement and enthusiasm. about what's coming in this space and the opportunities that are being created for artists and rights holders in this space. [00:11:39] Dan Runcie: Got it. So if I'm understanding correctly, it's like you were trying to show, okay, this is what it could look like. Let's give you an example of what this could look like. Like, if your Taylor Swift, like this is a type of revenue stream that you could unlock, but the presentation of it was more so, hey, here's where you can buy Taylor Swift's, you know, access to her likeness or access to her music. And you were trying to more so show a demo as opposed to an actual marketplace. Do I have that right? [00:12:07] Rory Felton: Yeah, it was definitely a live demo. There was no music used on the website. As a music rights holder myself, as someone that's worked with artists for decades, we would never utilize music in a way that was i…

    Full show notes at the publisher

    How Curren$y Played The Long Game With His Career & Jet Life Oct 20, 2022
    Show notes

    Most artists want career growth and they want it fast — sometimes to a fault. This is where Curren$y is an outlier. From the jump, Curren$y set out to grow both his career and fanbase slowly but steadily. He successfully did that and it’s a reason why he’s not only stayed in the rap game for almost twenty years, but is now still earning more money, and at a career point where most of his peers coming up have already fizzled out.Curren$y and his longtime manager, Mousa, joined me on this week’s episode to explain how zigging when others zagged contributed to their career longevity. One instance is leaving his hometown Cash Money Records label to create their own, Jet Life. The two have been able to morph the brand into a full-on business empire that now includes apparel, athlete management, products, and more verticals on top of the music label. The duo built Jet Life on the back of touring and being true to their audience. To do so, they turned down more brand partnerships they can remember and even music festival appearances at times — no matter how good the bag was for each. These trend-bucking moves were covered at length in our interview. Here’s what we covered:[3:15] New Orleans folks are immune to heat[4:44] Mousa and Curren$y relationship began in 2005[8:49] Growing Jet Life business beyond a record label[11:45] Turning down non-authentic business opportunities[15:59] Emphasizing touring early in Curren$y’s career[19:21] Releasing an EP as an NFT[23:52] Curren$y’s take on streaming farms[29:47] Macro-view of Jet Life revenue streams[34:47] Touring is cornerstone of Jet Life business[37:08] Performing on own shows vs. music festivals[43:48] Festival money goes to sports car dealership[45:16] Curren$y’s partnership with NASCAR (and problems with Coca-Cola)[50:37] What’s the secret to a great artist-manager relationship?Listen: Apple Podcasts | Spotify | SoundCloud | Stitcher | Overcast | Amazon | Google Podcasts | Pocket Casts | RSSHost: Dan Runcie, @RuncieDan, trapital.coGuests: Mousa Hamdan & Curren$y, @MOUSA504 & @spitta_andrettiSponsors:MoonPay is the leader in web3 infrastructure. They have partnered with Timbaland, Snoop Dogg, and many more. To learn more, visit moonpay.com/trapitalEnjoy this podcast? Rate and review the podcast here! ratethispodcast.com/trapitalTrapital is home for the business of hip-hop. Gain the latest insights from hip-hop’s biggest players by readingTrapital’s free weekly memo.TRANSCRIPTION[00:00:00] Curren$y: You can always expand and try new things, but if it feels wrong on the core, then you're setting yourself up. We never made a move like that. No matter what deal comes across the table 'cause he's money first. But he'll tell the people, the check writer like, man, just let me talk to bro. Because at the end of the day, he's going to hear me say it's half a million dollars, but he might say it's a boring job and he might not want to do it. [00:00:32] Dan Runcie:Hey, welcome to The Trapital podcast. I'm your host and the founder of Trapital, Dan Runcie. This podcast is your place to gain insights from executives in music, media, entertainment, and more, who are taking hip-hop culture to the next level. [00:00:54] Dan Runcie: Listen, you're going to love today's episode. It is with one of the most successful independent artists in the game and his longtime manager. We got Curren$y and we got Mousa. If you've been following Curren$y's journey for a while, you know that he was originally on No Limit Records 20 years ago. He left the record label. He then went to join Young Money. He was a little early on the Young Money Train, but he ended up leaving the record label before Nicki and before Drake blew up and he started his own. He started Jet Life, and he's been building up his career as an independent artist, and it's been great to see how he has navigated both how he releases music and also how he approached his business overall. And that was a big focus of this episode. We talked about his strategy for releasing music, and Curren$y is someone that is very prolific in terms of the amount of music that he puts out, but it also gets him plenty of opportunities to be able to go on tour, to be able to have several other business ventures that they have through Jet Life and through other areas. We talked about what they're doing in cannabis as well. We talked about the nightclub that they have, the apparel business, and a whole lot more. We also talked about a few partnerships that you may be surprised by, but I still think that fit well within the ethos for what Jet Life is and what Curren$y is trying to build. We even talked about some of the movie deals and opportunities that Curren$y had turned down. I don't want to spoil it. It's a really good one, but this was a really fascinating conversation, is also been great to just see how long these two have stuck together. If you're a big fan of this podcast, these are the type of episodes that you come for. Hope you enjoy it as much as I did. Here's my chat with Curren$y and Mousa. [00:02:41] Dan Runcie: All right. Today we're joined by the duo themselves. We got Curren$y and we got Mousa here, the artist-manager combination. How are you guys doing? [00:02:49] Curren$y: Man, we can't complain. The weather is nice outside and it is been pretty bad out here in Orleans. It's been a hundred degrees and raining every day, but right now it's sunny, 86 degrees, you know what I'm saying? I got long sleeves on, top down, having a good day. I can't complain. [00:03:07] Dan Runcie: See, that's the one thing about folks I know from New Orleans, like it could be 86 degrees and y'all are still in long sleeves. Y'all are still in hoodies. [00:03:15] Curren$y: Well, it is, well, because it is the heat, we're already adjusting. It's just hot in here. So now we've gone more fashion-forward, bro. It's like, just fuck it, bro. Wear what you want to wear because it's still going to be 190 degrees no matter what. So just go for it. I don't really condone that lifestyle unless you have a car. A lot of my younger brothers I see walking up and down the street, and they definitely look like they're about to commit crimes because it's a hundred degrees and they got on the hoodie and I'm, like, weary of, I'm like, hold on, you know what I'm saying, because, fuck, that don't make no sense. You dressed for action. But if you are in the car, you are in the office, you are in the studio. That's where that look really originated. People always tell me, II'm dressed like that forever, but it's been because most of my life has been like tour bus, studio, even when it wasn't me, I was like a little guy on Masterpiece bus. It was 60 degrees, you know what I'm saying? And these big mansions, it's cold as shit. So I just grew acclimated to dressing like that. I think I might have spearheaded that. I honestly, I think that I may have spearheaded that, but what haven't we spearheaded over here, you know?[00:04:25] Dan Runcie: It's true, especially folks at New Orleans, folks like y'all are trendsetters. And one of the things that I feel like sets y'all apart is that you've been doing this for so long, and you've been doing this for so long together. I mean, Mousa, you've been managing Curren$y now for, since '05, right? I know you do 'em before, but you started managing, like, '05, right?[00:04:44] Mousa Hamdan: We're friends before, but definitely since '05, since he joined in with Lil Wayne, with Young Money, Cash Money. So I think that's when he brought me on and asked me to come on as his manager. [00:04:53] Curren$y: Yep. Yeah. [00:04:54] Mousa Hamdan: And you know...[00:04:55] Curren$y: As soon as there was business to manage. [00:04:58] Mousa Hamdan: Right. [00:04:58] Curren$y: You know, right? While I was just slinging t-shirts, like ordering 28 t-shirts on a month, pressing CDs upstairs at my apartment, that was easy to do. When it began to grow and I saw, like, my two homes wasn't going to be enough to handle it, you know, what could I do but reach out to the one homie who I knew forever who don't want to smoke no weed with me, who don't want to get drunk with me, you know what I'm saying? Like, who's just like totally, his high is the business, deals closed and stuff gone successfully is him having a drink, you know what I'm saying? So it worked. It works like that.[00:05:36] Mousa Hamdan: Definitely. I like achieving goals. You know, I'm a goal seeker. And once you achieve one goal, set another one, you know? And that's my inspiration is to see how big we could really take this Jet Life, how, you know, how big deal this will be, and how long we can make it last. I mean, I thought about this morning, I was talking to one of my other homies, I was like, we've been in this game a minute, bro. Like, and he was like, look, I've been home for a little while and y'all been doing this a long time. So I say, yeah, definitely, but we not done, you know. We’re nowhere near done. We really just starting, we really starting to grow even more now. [00:06:12] Curren$y: That's crazy to say that, and that's really the truth, to be here in the game. Like, Jet Life, we're like over a decade, and each year it just gets bigger. That's really what you want. It's not a big, hasn't been just one big explosion. It's a slow burn. But it is guaranteed. And we've always grown. A lot of times you see people struggling, like, not to lose ground in the game, you know, and stay relevant. And that's never been a problem with us because we've been blessed to be able to, like, generate or, like, create our own world, you know what I'm saying? And the people who listen to our music or who dress, some people dress only in Jet Life apparel. And it is because they don't give a fuck about nothing else, you know what I'm saying? They've had their time to see what the world had to offer, and they saw that ours was just uncompromised. So they lend themselves to it a hundred percent. And that's been enough to sustain, like, the lifestyle that we have. And the people that support us, they like to pass by the Jet Life store just to see what cars we might have outside. So they continue to support us because now we're going to park more and more shit. Like, they the ones who help us do it, you know? So it's good. It's good. [00:07:27] Mousa Hamdan: It definitely is. It's really a lifestyle, you know? I think it's, you know, from the beginning I remember, Curren$y said in interviews as well as told me directly, like, you know, his vision of seeing how Jet Life and how he wanted to grow. He always said it was like a balloon. And I listened, I heard that, and I was like, he's right. He's like, you could either, you could blow air in it fast and it's going to blow big and then it's going to explode and it's over. Or you could blow in it slow and it's going to slowly blow. [00:07:57] Curren$y: Yeah. Fucking right. [00:07:58] Mousa Hamdan: Then you show the longevity. And that's what we did. We're blowing it slow. [00:08:02] Curren$y: Yep.[00:08:03] Mousa Hamdan: But look at us. We're still here. There's a lot of people that we saw that came before us and during us who we feel like, oh yeah, they got the light quick and they blew up fast. But then what happened? And you know, they're not around no more.[00:08:16] Curren$y: Something explodes, it ceases to exist.[00:08:19] Mousa Hamdan: It's done.[00:08:20] Curren$y: I've never seen anything, you know what I'm saying, explode that still had it ever, you know? [00:08:26] Dan Runcie: Right, oh yeah. You know, and I feel like with y'all, specifically, you're able to see the trajectory. You're able to see everything that you've accomplished, too, because I look at Jet Life, and it started as the imprint for your record label, but now you have your apparel, you also have the other businesses you have. How would you describe the current businesses? What are the current things under Jet Life right now? [00:08:49] Mousa Hamdan: Well, we got, of course, like you said, it started with records, Jet Life Records. And then it went to, we started doing tour merch, which grew into Jet Life Apparel. We were in now Jet Life Athletics. So we started to do deals with managing athletes and growing that brand. Then of course, we've other stuff that's not necessarily labeled Jet Life, but we've opened up a nightclub in New Orleans, so so that's something that's coming. [00:09:16] Curren$y: We got a big footprint in the cannabis community. We got a couple of other startups, like a coffee shop and a cereal bar we're going to launch. We already have two films out, so, I mean, if you want to say Jet Life Films is in existence, that is true. It's so much stuff that we do, but the circle is so tight, like, nobody's going to tell the other one. Like, bro, you realize what we doing because we are still in the midst of doing it. Like, an outside person would have to come in and really show us how many businesses and what's all under the umbrella 'cause we really just wake up and try to, like, just make sure we make something happen, you know, every day. If you want to label it and put a name on it, then, it was news to me, right now just listening to how much stuff we have going on. [00:10:04] Mousa Hamdan: We forgot Starting Line Hobbies.[00:10:06] Curren$y: Yeah, we got hobby shop bro, like that. See? So the more you sit down… [00:10:11] Mousa Hamdan: We forget some of the business. But they exist and they're profitable, right?[00:10:16] Curren$y: He's got an auto body shop, it's still in existence. That's really where a lot of it comes from, his whole foray into it all was being able to survive if one thing fell down. Even though the music was the one that paved the way and drew the attention, the industry is fickle. So you see people like, we see them rise and you think they going to build this whole empire, they end up with a warehouse full of shit. They can't move bobbleheads of themselves. Nobody wants t-shirts, nobody wants home furnishing. Nobody wants it, fucking goes that way, you know what I'm saying? And we've been blessed to like, now we got two or three warehouses, you know what I'm saying? But we're moving the shit, you know. So it's just about staying true and not, we never really tried to do too much, nothing outside of what felt right to us. You can always expand and try new things, but if it feels wrong on the core, then you're setting yourself up. We never made a move like that. No matter what deal comes across the table 'cause he's money first. But he'll tell the people, the check writer like, man, just let me talk to bro. Because at the end of the day, he's going to hear me say it's half a million dollars, but he might say it's a boring job and he might not want to do it even though it's half a million dollars. So he'll just check with me, you know what I'm saying? We probably go and do the 'shit anyway 'cause it's half a million dollars. But he checks with me because in my heart of hearts, I might want to say no, but I got a kid and shit. [00:11:45] Mousa Hamdan: I'll definitely ask him. Do you want to do this though? [00:11:49] Curren$y: Yeah. And I got respect for him for doing that. The fact that he compromised his money mentality that asks me…

    Full show notes at the publisher

    Rap Capital: The Rise & Reign Of Atlanta’s Hip-Hop Empire Oct 13, 2022
    Show notes

    The dominance of Atlanta’s hip-hop scene has been discussed often, but not in the way Joe Coscarelli covered it in his new book, Rap Capital. Joe, a New York Times music reporter since 2015, spent four years and interviewed over 100 sources to get the contemporary story about Atlanta’s culture-defining music scene.Characters are what move the story forward in Joe’s book, not discography, record sales, or cultural relevance. Lil Baby is featured prominently, as is his mom. Joe’s relationship with the hit rapper dates back to 2017 when Lil Baby was still a mixtape artist. Another recurring character is Quality Control Music’s Kevin “Coach K” Lee, who has deep-rooted ties with the city’s most well-known artists across eras.Joe came onto the show to take us through the book’s journey — both for him to write it and the characters themselves. Here’s what we covered:[2:40] How the book came together and finally clicked[6:42] Role of Quality Control’s Coach K in Atlanta story[10:11] Lasting effects of pandemic on music industry[12:38] Which era of Atlanta hip-hop to focus on? [14:09] How streaming helped launch Atlanta rap into the mainstream[16:10] Building trust with his sources despite racial differences[18:10] Did Joe receive any pushback while reporting?[20:19] Evolution key to Atlanta rap’s longevity [25:05] Adapting Rap Capital into a movie[29:45] The crumbling of mainstream cultureListen: Apple Podcasts | Spotify | SoundCloud | Stitcher | Overcast | Amazon | Google Podcasts | Pocket Casts | RSSHost: Dan Runcie, @RuncieDan, trapital.coGuests: Joe Coscarelli, @joecoscarelliSponsors:MoonPay is the leader in web3 infrastructure. They have partnered with Timbaland, Snoop Dogg, and many more. To learn more, visit moonpay.com/trapitalEnjoy this podcast? Rate and review the podcast here! ratethispodcast.com/trapitalTrapital is home for the business of hip-hop. Gain the latest insights from hip-hop’s biggest players by reading Trapital’s free weekly memo. TRANSCRIPTION[00:00:00] Joe Coscarelli: I wanted to tell the story through characters, through people, not just, you know, you can run down the discography of all the amazing Atlanta musicians, right? You can go through the label history, read the reviews. But I always want to sort of pull back like, who's behind these people? Who's behind that person? So that's why I think, you know, mothers were huge, fathers, you know, friends, people who are around these artists growing up, I wanted them to be human characters, and I wanted the side characters to be as big of a part as the famous people 'cause I think they're as crucial to the equation. [00:00:30] Dan Runcie: Hey, welcome to the Trapital podcast. I'm your host and the founder of Trapital, Dan Runcie. This podcast is your place to gain insights from executives in music, media, entertainment, and more, who are taking hip hop culture to the next level. [00:00:58] Dan Runcie: Today's guest is Joe Coscarelli. He's the author of Rap Capital: An Atlanta Story, and he's a culture reporter at The New York Times. And this book that he wrote, Rap Capital, I cannot recommend it enough. If you listen to this podcast, if you read the newsletter, if you watch any of the clips from our conversations or any of the posts on social media, this book is made for you. It's a street-level epic about the most consequential music culture today, Atlanta Rap. Joe put so much thought and care into how the book came together and tying everything from the Atlanta murders that happened decades ago and how that shaped the rap culture and the broader culture for black folks in Atlanta that we see today, and how that led to someone like Lil Baby, how that led to someone like Coach K having such an influence over hip hop music and the culture for decades now. This book was a great opportunity as well to have a trip down memory lane. A lot of us understand how influential Atlanta's been, but it was great to have it be told from a unique way. We also talked about broader trends happening in the streaming era right now in music, what a movie or film or TV show adaptation could look like for Rap Capital, and more. Here's our conversation. Hope you enjoy it. All right. Today we had Joe Coscarelli, the author of Rap Capital: An Atlanta story and read the book, really enjoyed it, and I got to ask because I was going through the synopsis and you said this was four years in the making, and I got to imagine with a book like this, there was some point when things started to click in that four-year process. When did you feel like things were coming together for you? [00:02:40] Joe Coscarelli: So I knew that there was a book in this stuff because I had done a handful of stories through my day job at The New York Times about Atlanta. I started this beat in late 2014. So., You know, my first couple years on the job, streaming was really taking over and specifically rap music and streaming. So I just found myself over and over again talking to the same group of people, right? I did a Migos Story, did a QC story that featured Lil Baby, one of his first interviews. I wrote about Drew Findling who's a lawyer in the book that's all over the news these days in various capacities. So I knew from those stories that there was something here. But I didn't know what it was going to be. I knew I wanted to not just tell a history, but follow characters in real-time as they tried to make it. That's something I always want to do in my work. You know, so my favorite art ever is like Hoop Dreams or a music documentary like Dig!, which follows two bands across a long period of time. One of them makes it, one of them doesn't make it. That's always what I want to bring to my reporting is this idea of a journey, right? And it doesn't even matter what the destination is, but following, specifically artists and musicians as they're trying to make something out of their lives, that to me, is just a timeless tale, right, of ambition and dreams, and so I knew I had a handful of characters that I wanted to go on this trip with, but I didn't really know how it tied into the broader story of Atlanta until a real marathon brunch interview with Lil Baby's mother, Lashawn. He was, you know, he and I had a rapport at that point. I'd interviewed him a few times. I did talk to a lot of people around him, and he was kind enough to set me up directly with his mom. And, you know, we sat down at a brunch place outside of Atlanta. And, you know, she said, I asked him, I asked Dominique, her son, we're like, what do I tell him? And he told her tell him everything. And she really did, her whole life story became part of the book, especially the foundation of the book, in the first part. And she had such an incredible life on her own. You know, I hope she writes a memoir someday. But when I learned really that she had been friends in school with an early victim of the Atlanta child murders, which were happening on the west side of Atlanta in the late seventies, early eighties, that she had a firsthand relationship to that historical event that I feel like really left its mark on the city. And she was open. She said it sort of affected the kind of mother that she became, and I think ultimately helped set Dominique, Lil Baby, on his path. And all of that could be traced to, like, something she went through as a kid that also spoke more broadly to Atlanta and the way it has developed socially, politically, culturally, especially Black Atlanta over the last 40, 50 years. So that was a real breakthrough moment for me, and I knew that I could start with her story, which in many ways was also the story of Atlanta in the last, you know, half a century. [00:05:30] Dan Runcie: And in reading that first piece, too, I could see how much care and thought was put into it from your perspective of going through what happened with those murders and then how that traces directly to someone like Lil Baby because it's hard to tell the story of Atlanta hip hop without doing all of that. And that's something that I think is often missing with so much of the discussion about Atlanta's run, which is why I feel like your book does stand as its own and is able to have a unique voice and perspective on this.[00:05:58] Joe Coscarelli: I appreciate that. Yeah, I wanted to tell the story through characters, right, through people, not just, you know, you can run down the discography of all the amazing Atlanta musicians, right? You can go through the label history, read the reviews. But I always want to sort of pull back like, who's behind these people? Who's behind that person, you know? So that's why I think, you know, mothers were huge, fathers, you know, friends, people who are around these artists growing up, I wanted them to be human characters, and I wanted the side characters to be as big of a part as the famous people 'cause I think they're as crucial to the equation. [00:06:31] Dan Runcie: And of course, Lil Baby is one of the central characters. Another one is Coach K, who's one of the folks leading up Quality Control Music. Why was it important for him to be a central character in this too? [00:06:42] Joe Coscarelli: So Coach K is amazing because you can tell basically the last 30 years of rap music only through his career, right? When I said I wanted to be able to trace characters back through the years to artists and eras, like, Coach has seen it all, right? This is a man who was passing out Church fans to promote Pastor Troy and the congregation in the mid-nineties. Then he goes from that to representing all these producers who were, you know, crucial to founding the trap sound, someone like Drama Boy. And then he's working with Young Jeezy, right, as the Snowman mythology takes over and, you know, Def Jam South and the explosion of trap music on a national scale. Coach is behind that, right? You know, there's a moment I talk about in the book where they put the commercial on the radio right, in Atlanta, when the Jeezy's mixtapes, Trap or Die are coming out, right, and it's All Traps Closed today, like National Holiday, you know, like these are the things that Coach was cooking up behind the scenes. Then he works with Gucci Mane, right, who was blood rivals with Jeezy. And then that brings you up to the present day, and in 2013, he and P, his partner Pierre Thomas, they founded Quality Control, and then they have Migos, right, and then they have a Lil Yachty, and then they have Lil Baby. And through Coach K, you could talk about every single one of those careers and so many more that he was on the periphery of, even if he wasn't the main executive or manager involved. So I just think, you know, there's nobody more crucial to that ecosystem at this moment and through the last couple of decades than Kevin Lee, Coach K. [00:08:14] Dan Runcie: Yeah, and I think one of the things that stands out about their run, too, is that it wasn't just one artist and they faded and rose with that artist. And I think that's what we've seen a lot in the streaming era, frankly, from a lot of the record labels that have rose up. They had the runs, and even when one star started to fade from a group that was the hottest group in the moment, they had others that came through, and you're seeing that infrastructure. I feel like that's one thing that sets them apart from a lot of the others at this moment. [00:08:42] Joe Coscarelli: Totally. For them, it's all about artist development, right? Like, I remember being around them in the office, you know, in late 2017 and they were talking about whether they should have gone after Bhad Bhabie, you know, the Cash Me Outside girl. And like they would see little things pop up and think like, oh, should we get in on that viral moment? And then they would be like, No, that's not what we do. We build artists, we build careers, we build brands. And something that's so special about Quality Control and why they were able to, you know, be the backbone of this book is because they are invested in that sort of old school Motown-esque record business thing of I'm going to pluck someone who might not even think they're a musician, and we're going to believe in them, and we're going to back them, and we're going to build it from the ground up, right, and we're going to build it Atlanta first. Whereas so much in the viral marketing, streaming world of today is going top-down, right? It's a TikTok hit, then it's a major label deal, and this person's probably never even played a show before. They're still very invested in the grassroots bottom-up approach, and I think that's worked for them so many times now that the playbook is, you know, you can't deny it.[00:09:48] Dan Runcie: Yeah, and I think that also that goes with something that I've seen you talk about even outside of the book as well, just some of the challenges that a lot of the artists and labels have right now in terms of now that the pandemic has, at least in this stage that we're in right now, there's still some lasting effects in terms of how that's shaping the charts, how that's shaping how music's released. What have you been seeing there from that perspective? [00:10:11] Joe Coscarelli: I mean, you know, a lot of people have been writing this year, yourself included, about the sort of stagnancy of the charts, how, you know, there aren't a lot of new breakout hits, especially in rap music, which had been so dominant for the last decade, essentially, as things started to move online and towards streaming. And I think you're right that a lot of that is pandemic hangover, right? Like, people were not outside like they used to be. Artists were not sort of feeling that energy, that creative energy. They were creating often, like, in a little bubble. I'm sure you get projects like a Beyoncé's RENAISSANCE that comes out of that pandemic moment and maybe speaks to some people's hopes and dreams for what the next few years will be, a little freer. But you don't have any chance for that sort of grassroots development, right? So we saw a lot of things come off of TikTok, but as I was getting at, like, those people, they haven't had the opportunity to touch their fans, right, to speak to the sort of ground swell of support. So you get a lot of things that feel fleeting and then you have something massive, right? Bad Bunny or like Morgan Wallen that's just like lodged up there at the top of the charts 'cause I think those guys had a fully formed thing going into the pandemic and were able to ride it through. You know, when you think about a lot of rap, especially regionally, that's bubbling now, there's a lot of drill, right? Like, you think of the stuff coming out of Brooklyn and the Bronx and that sound traveling all over the country. And I think, you know, since Pop Smoke, we haven't really had a sort of mainstream emissary for that sound. And it is such a local, such a hyper-local, such an underground phenomenon that you haven't really had someone translate it for the mainstream, you know, maybe that's going to be Ice Spice, maybe that's going to be Fivio Foreign, and like, you know, maybe it's going to be someone younger. But I think we're still waiting, right, for what that next wave, especially in rap, is going to be. You see the sort of sun may be setting on the trap era that's described in the book in the rise of drill as the default of what a rap song sounds like, but again, that hasn't really crossed over quite yet. [00:12:11] Dan Runcie: Yeah, it's been fascinating just to see how the streaming era has shaped thing…

    Full show notes at the publisher

    Mona Scott-Young’s Influence On Culture Goes Beyond Love & Hip Hop Oct 06, 2022
    Show notes

    Mona Scott-Young is best-known for producing the Love & Hip Hop reality TV series on VH1. The franchise debuted in 2011 has remained a TV fixture today through industry-wide changes with TV and around 30 different seasons aired. However, it’s Young’s ability to permeate hip-hop culture into the mainstream that’s been the true calling card.Before Love & Hip Hop, Mona managed talent in music. She was a co-founder for Violator with the late Chris Lighty, and was behind memorable brand partnerships such as Busta Rhymes and Courvoisier, Missy Elliott with Reebok and Adidas, and the landmark 50 Cent-Vitamin Water deal, among many others back then, such deals were harder to cut than nowadays.It was during this time in music when Mona was introduced to the fascinating lives of hip-hop wives, which led to Love & Hip-Hop’s creation. But Mona, who also founded and runs Monami Productions,has more stories to tell about the hip-hop industry. She’s teaming up with another well-known TV producer, 50 Cent, on “Hip-Hop Homicides,” which debuts later this year.Mona’s influence on the world of hip-hop reaches further than most realize. To hear how Mona moved the culture forward, you’ll want to listen to our show. Here’s everything we covered: [2:59] How does Love & Hip Hop stay fresh?[4:45] Biggest challenge for reality TV in social-media age[7:55] Love & Hip Hop success stories [9:07] Influencing other hip-hop-related series[11:15] Increased programming around hip-hop[14:21] How reality shows fit into today’s streaming landscape[19:00] Mona’s career in music and artist-brand deals[24:52] Brand deals for Love & Hip Hop talent [28:27] Network pressures to expand the Love & Hip Hop brand[30:06] Scrutiny on the show’s content[34:01] Future of Love & Hip Hop Listen: Apple Podcasts | Spotify | SoundCloud | Stitcher | Overcast | Amazon | Google Podcasts | Pocket Casts | RSSHost: Dan Runcie, @RuncieDan, trapital.coGuests: Mona Scott-Youngs, @monascottyoungSponsors:MoonPay is the leader in web3 infrastructure. They have partnered with Timbaland, Snoop Dogg, and many more. To learn more, visit moonpay.com/trapitalHitPiece is your place to discover new NFTs from your favorite artists. Learn more today at hitpiece.comEnjoy this podcast? Rate and review the podcast here! ratethispodcast.com/trapitalTrapital is home for the business of hip-hop. Gain the latest insights from hip-hop’s biggest players by reading Trapital’s free weekly memo. TRANSCRIPTION[00:00:00] Mona Scott-Young: These were women who were living in the shadows of the men in their lives who had achieved all the fame and the success, and how were these women leveraging the relationships that they were in and the things that they were doing to get to where they wanted to be in life. So I always framed it as an opportunity, so you're getting these stories, right? All of the heartbreak and all of the joy, the highs, the lows. But in exchange, these women are also getting this platform where they can build their brands, build their businesses. [00:00:39] Dan Runcie: Hey, welcome to The Trapital podcast. I'm your host and the founder of Trapital, Dan Runcie. This podcast is your place to gain insights from executives in music, media, entertainment, and more, who are taking hip hop culture to the next level. [00:00:59] Dan Runcie: Today's guest is the producer and entrepreneur, Mona Scott-Young. She is the mind behind Hop. She also was a music executive for a number of years, worked with Violator and put together some of the more memorable hip hop branding deals of the time, such as Busta Rhymes in Courvoisier and Mountain Dew. She worked with 50 Cent, Vitaminwater as well, and a bunch of other deals, and she's been someone I've wanted to have on this podcast for a while. We talked a lot about the business of TV and how things have changed specifically for a docu-follow show like Love & Hip Hop. This is a show that has been going on for more than 10 seasons now and has had different franchises, different spinoffs, and has had plenty of copycats as well. So we talked about the business of the show, what it's been like producing it, the platform that a lot of the talent have had that have come up from it, one of the most famous examples is Cardi B and what she'd been able to do after the show, but we also talked about some of the other talents that's come from the show as well. We also talked about how Love & Hip Hop is positioned and some of the perception that it's had, whether or not that perception is more so chatter and criticism, or has that actually made a material impact on the business of what Mona's doing. She also talked a little bit about some of the other projects coming up from Monami Entertainment such as Hip Hop Homicides and a whole lot more. It was great to talk to her, get her perspective on streaming, the industry, where things are, and overall the brand deals that are happening in hip hop. Great conversation. Glad we finally had her on. I hope you enjoy it as much as I did. Here's my chat with Mona Scott-Young [00:02:38] Dan Runcie: All right. Today we are joined by the one and only Mona Scott-Young, producer and one of the great folks in media and entertainment today. And I feel like for you, you've been more than a decade in with Love & Hip Hop, you have several spinoffs. How do you keep things fresh? How do you keep everything coming year after year?[00:02:59] Mona Scott-Young: You know, I always say it's about reinvention. It's about evolution, making sure that you are constantly growing, whether it's me as a producer and applying that to the franchise. You know, what's great about the way that that concept was built is it's that it was a world, right? So we could always populate different folks in and out of that world. So it gave us an opportunity to, you know, cycle in new talent who had fresh stories to tell. And I think that has a lot to do with the staying power and the longevity of the franchise. [00:03:31] Dan Runcie: I think the other thing that's impressive is just how the show's been able to stay consistent with all of the changes that are happening with media and streaming and anything else. Have there been any big shifts that you've made from that perspective as things that have continued to move, whether it's from cable to streaming networks to where things are now? [00:03:50] Mona Scott-Young: You know, not necessarily in terms of the concept, right? 'Cause like I said, the stories are what keeps it fresh and different, but we definitely loosened up our shooting style a lot and we became, you know, more free-flowing, I think to be in line with the fact that folks were able to tune into social media and see things happening in real-time. You know, when we first started the franchise, a big part of it was this very soap opera-like feeling that it had. And over the course of the years, we loosened that up a little bit just so that the stories were able to, you know, track a little more closely to what was happening in real-time in their lives.[00:04:30] Dan Runcie: That makes sense. Do you feel as if social media changed the overall feel and the flow of the show itself? I know that's something that, I've talked to a lot of people on TV and they felt like they've noticed that. How are some of the ways you feel like social media either impacted things for Love & Hip Hop?[00:04:45] Mona Scott-Young: Absolutely. You know, because there's such a lead time with production and editing. It's really hard to stay up with the fact that these folks are out here living their lives on social media, and so the audience gets a chance to just tune into their IG lives and get a blow-by-blow of everything that's happening in their lives so that by the time our show is edited, it's hard for it to feel fresh, right, because they're like, oh, I saw that happen months ago. And so it's finding those other stories, getting the cast to keep things exclusively for the show so that there's this sense of discovery for the audience. 'Cause I think that's the biggest hurdle for reality TV is the fact that, you know, everyone has access to their audience and can broadcast their lives, you know, on a minute-by-minute basis. And so how do we offer something that's different, something that's entertaining, something that feels fresh and current and relevant? I think that's the biggest challenge. [00:05:44] Dan Runcie: Have you noticed that shift with social media at all changed based on what platform has been popular at the time? Of course, the show is popular as ever in Black Twitter, but how about with TikTok now with things picking up there? Have there been any unique things you've seen with the reception there? [00:05:58] Mona Scott-Young: Not necessarily. You know what, I'm not a big TikToker. I don't know if I should say that. I probably just aged myself a thousand years, but, you know, I haven't really noticed a big shift based on TikTok viewership. I know that, you know, or usership, 'cause I know that that's mainly what music, dance, or are they doing skits on there as well?[00:06:21] Dan Runcie: I mean, they're doing skits. I feel like with the show like yours though, it's unique because I think that you're reaching a bit of an older demographic than the folks that are really in TikTok. But like with all these social media platforms, they do tend to scale up at some point, right? So the younger community... [00:06:37] Mona Scott-Young: We'll see what happens, yeah. One of the biggest things that we saw happen on social media were the reenactments, right, the recreations where you had all of these social influencers and social comedians doing their takes on the scenes from the show, and that gave it a whole another life. And I think, you know, what people enjoy about the show is the cast's ability to be self-deprecating. They make fun of themselves, so sometimes you'd see them participating in those skits. You know, social media has always played a huge role in the success of the franchise, even dating back to the very early days where we gave bloggers and the video influencers, the social media influencers, the sneak peek at the show so that they kind of had first dibs. And the immediacy of, you know, them talking about the show and having that engagement was a big part of the success of the show. So I love it when I continuously see the show showing up in different ways on social media.[00:07:34] Dan Runcie: Can we also talk about how social media has been a big piece for how a lot of the folks on the show can use Love & Hip Hop as a platform to do other things? I think Cardi B, of course, has been one of the hallmark examples of this. But what are some of the other folks that stick out for you in terms of, yes, what they were able to do at this show, and then social media took them to another level?[00:07:55] Mona Scott-Young: I mean, if you think about everyone who's like started a business, right? Most of their products, they're hawking them online and via social media. So, you know, whether it's the waist trainers, the hair clips, makeup, all of that stuff kind of came from seeing it on the show and then watching them blow it up. And then you have some of it that was reverse engineered like Cardi was huge on social media already as kind of a, you know, influencer, comic, and having an opportunity to be on the show expanded her audience. But I just think seeing those two things come together, that was probably the biggest example of how, you know, social media and linear TV worked really well to really expand her brand.[00:08:40] Dan Runcie: Yeah, especially with her specifically. I mean, she's giving you the shoutouts in the songs, too, but just seeing what she's able to do creatively with the brand, and I think that's something that's been unique that we've seen with reality TV overall. But I feel like with your type of show specifically because you do get some of those characters that come back, you have some that go off and do their own thing, you see a bit more of that variety than some of these other shows where it's like one season that you may never see that person in the season. [00:09:07] Mona Scott-Young: That's very, very true. I mean, one of the big mandates for me, 'cause a lot of these shows were just about chronicling lives, right? This is about your life. For me, it was always, this is an opportunity, right? If you think about at its core, these were women, or the core of the original concept, these were women who were living in the shadows, right, of the men in their lives who had achieved all the fame and the success, and how were these women leveraging the relationships that they were in and the things that they were doing to get to where they wanted to be in life. So I always framed it as an opportunity, and what I love to see is how, you know, they go out and they take advantage of that opportunity. So you're getting these stories, right? All of the heartbreak and all of the, you know, the joy, the highs, the lows. But in exchange, these women are also getting this platform where they can build their brands, build their businesses. Everyone from Yandy, right, who went from being behind the scenes to having her Yelle Skin Care and all of her other numerous businesses that she has. Cardi with her music, who, you know, was doing her music, didn't have that massive success, had a huge following on social media, but was able to kind of connect the dots in a way that allowed for her music to take off. Oh, God, Rasheeda, Karlie Redd, and K. Michelle, and when I think about all of the success stories with their businesses and their brands, that for me is the big differentiator for Love & Hip Hop 'cause I think these ladies understood the assignment, understood that this was an opportunity, and took advantage of it to, you know, level up in their lives and what they were doing with their business.[00:10:50] Dan Runcie: And I feel like I've seen your own career and your own opportunities take a similar evolution as the show has continued to have its own success, and you had started your production company years ago, but I think right now we've just seen more and more opportunity for creators like yourself that have been able to establish their franchises and just have the success and have different networks have interest in them year over year. What has that process been like? [00:11:15] Mona Scott-Young: Yeah. You know, it's the most gratifying thing because I think, you know, the first to market with anything always is a double-edged sword, right? So Love & Hip Hop was the first docu-follow of its kind that focused on the genre of hip hop and the way that we did, and really gave a different look and feel to what we're used to seeing on reality television. And what we've seen since then, I think, are a lot of shows that I would say Love & Hip Hop paved the way for. You know, shoutout to shows like Power and, you know, Empire and even Rap Sh!t that Issa Rae has on right now. I look at that and I go, yeah, the fact that, you know, we're now giving space to scripted shows that are set in this world and shining a light on the culture and, you know, the women in the culture specifically, if you look at Rap Sh!t, I feel like that is a direct descendant of what Love & Hip Hop was able to pave the way for.[00:12:13] Dan Runcie: Yeah, those are good examples. I feel like that moment in the end of the 2010s, you started to see more shows, I feel like that whole Empire run and a bunch of shows around that, we're able to see a lot of succe…

    Full show notes at the publisher

    Inside Hannibal Buress’ Pivot From Comedy To Rap Sep 29, 2022
    Show notes

    Hannibal Buress has carved a name for himself in comedy over the past two decades. But now he’s foregoing that part of his career for a fresh identity — Eshu Tune, his rap alter-ego. The name pays homage to a “trickster god” in Nigerian mythology.A rap career has been in the back of Hannibal’s mind but the career pivot wasn’t seriously put into motion until 2020. Earlier that year, he put out a comedy special, “Miami Nights.” While promoting it at home during lockdowns, Hannibal felt a spark missing. That, plus the added alone time from not performing at comedy clubs, finally pushed Hannibal into the studio. Since then, Hannibal has largely dedicated himself to rap and rap only. His eight-track, self-titled EP dropped earlier this year. Live rap show performances followed that. An agency deal was inked with UTA this summer. And soon, Hannibal will hit the studio to prepare for his debut album, which he plans to drop on his 40th birthday next April.Hannibal took me through his comedy-to-rap journey over the past two years on the show. Here’s what we covered in our interview:[2:54] Introducing Eshu Tune the rapper[4:17] What led Hannibal to the career pivot[6:53] Goals of debut EP [10:11] Benefits of being independent artist[14:34] Following Too $hort at a Bay Area show[19:52] Getting a performing residency in LA[21:29] Challenging himself with music[26:52] Difference between Hannibal’s comedy and rap fanbase[29:08] Will Hannibal still do comedy?[31:36] Has the changing climate of comedy impacted Hannibal?[34:01] Previous comedians that went into music[37:50] Response from rap community to Hannibal’s career pivot[38:52] Eshu Tune’s next album dropListen: Apple Podcasts | Spotify | SoundCloud | Stitcher | Overcast | Amazon | Google Podcasts | Pocket Casts | RSSHost: Dan Runcie, @RuncieDan, trapital.coGuests: Hannibal Buress, @hannibalburessSponsors:MoonPay is the leader in web3 infrastructure. They have partnered with Timbaland, Snoop Dogg, and many more. To learn more, visit moonpay.com/trapitalEnjoy this podcast? Rate and review the podcast here! ratethispodcast.com/trapitalTrapital is home for the business of hip-hop. Gain the latest insights from hip-hop’s biggest players by reading Trapital’s free weekly memo. TRANSCRIPTION[00:00:00] Hannibal Buress: I got some stuff, I got 'em locked and loaded, just, you know, got to go get 'em out. That's one thing too, is since I am independent, I don't feel, I just kind of do it when it feels right, when it genuinely feels right to do. It's no pressure. It's just like, okay, do I truly want to do this? Ain't no exec, hey, you got to do, there's nobody doing that, so I have to make that decision, which is a gift. I wouldn't say it's a curse, but it forces that accountability.[00:00:35] Dan Runcie: Hey, welcome to The Trapital podcast. I'm your host and the founder of Trapital, Dan Runcie. This podcast is your place to gain insights from executives in music, media, entertainment, and more, who are taking hip-hop culture to the next level. [00:00:] Dan Runcie: Today's guest is Hannibal Buress. You likely know his name from his comedy and his acting, but this episode is all about his music. Hannibal Buress has released an eight-track EP under the name Eshu Tune, and that is his artist that is creating hip-hop music. And we talked all about why he chose to start this new chapter in his career, why music was important to him, and how he sees things moving forward. Hannibal had had a career of dabbling in music every now and then. He actually had beaten Open Mike Eagle in a rap battle a couple of years back. And it's something that he had tapped into, but it really wasn't until the pandemic, and a lot of us had the time to really think and tap into what was most important to us. And he was able to take this on not only as a new challenge for his career, but as a new opportunity to do something that he always wanted to do, but knowing that he could both continue to leverage the platform that he has as a comedian and as an actor, both from a financial perspective, but also from an exposure perspective. We also talked about his upcoming residency, how he's been positioning himself to get booked on shows and other things, and how important this is for him right now. So it was great to tap in. This was also the first episode recorded in Trapital's new home. I have a new office and studio here, and it's been great to get everything set up, and it's been great to record these in person, too, because, listen, it's great to do things remotely. A lot of them have been that way, but it's just a different chemistry that you get when you can do them in person. So it was great that Hannibal and I could connect while he was in town. Here's our conversation. Hope you enjoy it. All right. Today we got the one and only Hannibal Buress.[00:02:41] Hannibal Buress: What's up, man? [00:02:41] Dan Runcie: Mr. Eshu Tune now, though. [00:02:43] Hannibal Buress: Eshu Tune, yeah, yeah. [00:02:44] Dan Runcie: Last we talked, it was all about comedy. We're getting ready for a special that you had Miami Nights, but now we're about to talk about your music career, man. [00:02:52] Hannibal Buress: Yeah, for sure, man. [00:02:53] Dan Runcie: So who is Eshu Tune? [00:02:54] Hannibal Buress: Eshu Tune is my musical alter ego. Eshu is from Yoruban mythology, Nigerian mythology, the trickster God. I was looking for a stage name there, so I just looked up African mythology and I just connected with that description. It kind of felt like me and some of the things I've done and, yeah, it just felt right. It really was a big help to kind of separate the worlds a little bit just 'cause now I look at, you know, Eshu as, okay, we can build them together 'cause now, I can if I want to do a little bit of comedy on this shows, it's like, Hey, yeah, they'll both be there.[00:03:34] Dan Runcie: Right, right, right. [00:03:35] Hannibal Buress: I changed shirts. You know, I can think of you like, you know, Hannibal's t-shirts. Eshu's in a red shirt or something, you know? So it's been fun. And so I'm excited for the growth, and performing has been really exciting, and a lot of dope stuff coming up.[00:03:53] Dan Runcie: So talk to me through the journey a bit because I know this is something that you spent a lot of time on in the pandemic. And last time we talked about it, you were getting ready to release Miami Nights, and this was around the same time that you had started working on music. So what was your mindset at that time? You got this big comedy special coming out, but you also are thinking about this new career opportunity.[00:04:17] Hannibal Buress: My mindset? 2020, putting out the special during that time was hella weird just because it wasn't the usual motions and movements that you have with putting out a special, doing events, doing press in person. You know, I did The Daily Show, but it was on Skype. And it just felt weird doing television from my place 'cause you still get wired kind of, but then you're just wired at the crib. It's like, man, oh, I'm not getting in the car to go somewhere else, you just there like, oh.[00:04:54] Dan Runcie: Right, right. [00:04:55] Hannibal Buress: I remember doing, I did First Take with Stephen A. Smith. Something for Last Dance, just talking about Last Dance. And I remember just, I kept messing with them changing jackets. [00:05:08] Dan Runcie: Oh, I remember that.[00:05:13] Hannibal Buress: Molly was giving me sass. Oh, thanks for being so professional. I'm trying to, like, you want me to make a great statement about Last Dance? Look, oh, yeah, Last Dance. What's up with that? I'm trying to have some fun, make some real memories here. Nobody will care about my take on... [00:05:30] Dan Runcie: It's a documentary, right? It's not like it's an event that happened last night. [00:05:35] Hannibal Buress: Yeah. If I make a great point about the '96 Bulls, '98 Bulls in 10 years, but people don't care if I'm was chaotic as hell. I need to put that clip back up actually. That was really fun. I was sweating and shit. Yeah, it was a good time. But, yeah, putting out the special then, it was weird, man. And I wanted the music, I started really diving in in November of '20 when I was out in Hawaii. I kind of, it was nice to be able to lock in, focus. I've always wanted to do it and would finally find the time. And the time was always there, honestly, but I wasn't as good as maneuvering time as I am now. 'Cause looking back, I could have been on the road after gigs, instead of going to the club, could have been booking studio time, that type of thing, or, you know, I'm glad it happened when it happened. [00:06:31] Dan Runcie: Yeah, that makes sense. I think, too, I've looked a lot about how you chose to roll this out, right? It's not like you just did one single, let me drop in and see what happens. You had an eight-track LP, oh, EP that you put out specifically for it. What was your goal in terms of the release? Was there a certain response that you wanted to have or a certain emphasis you wanted to have with how you chose to put it out as an EP?[00:06:53] Hannibal Buress: Yeah. And initially, I was going to do singles, the single strategy, but then I had a bunch of songs and I said, let me just get these out and see how I want to do it. Like, if I want to do videos for stuff, which I am still going to do the visuals on things and get 'em out. But it was just after a while. It was just, let me just do it. And I didn't follow the proper practices of, you know, get it to the DSPs with this much time, to the best time, like, all the stuff that I know you're supposed to do to give your release the best chance. But I just feel like it'll get its due when it's due, you know what I mean, whether it is when I put out videos later this month or next month or down the line. It's my first project. So whether it's crazy now or crazy in five years, it's always my first project. So it'll be there and it just felt good to get it out and have it out ' cause then the music got better afterwards, the stuff I started recording. And I still like the song, like 1-3 Pocket. I like 1-3 Pocket. And that was 1-3 Pocket, that's the motherfucker hit. Like when we made it, yeah, this bowling song's going to go crazy. Hell yeah, we made a bowling banger, but now I got other songs. I'm like, okay, I was wrong. Well, maybe I wasn't wrong, but it's just, the music is getting better. And so it's nice to feel that and feel that improvement and the progression. And so that'll keep on happening indefinitely. You know, if you keep on working on it, keep on releasing, keep performing, it's going to get better. So it's nice to have that feeling and, and hear that in the music and like even hearing how the music sounds. If I record the day after a show, that music sounds good 'cause you can kind of hear the clarity, you know, you already got the energy. So it's been exciting, man.[00:08:50] Dan Runcie: Yeah. I get the feeling that 1-3 Pocket was a song you thought was going to be the one and that's a one, but I feel like Veneers is the one that I feel is your anthem. [00:08:57] Hannibal Buress: Veneers worked before I even put it out, and I performed it 'cause the hook is slower and the beat is chill. It feels, yeah, Veneers is the one I think people like more than the song that has really inside bowling terminology in it. Surprise the song about teeth is more accessible than the song about the bowling pins. Like, even people that love bowling have said to me, what is the 1-3 Pocket? [00:09:33] Dan Runcie: 'Cause some people would think you're talking about like billiards or like, you know, like shooting pool or something like that.[00:09:37] Hannibal Buress: Nah, it's just a, yeah, it's the headpin and the pin to the right. I got to put out a video for 1-3 Pocket. I got the lyric video out. I got to get the official video out, a couple of them. I might, you know, we'll see if I get on stubborn mode and start putting out three, four videos for a song. That's when I really, I'll start really lighting up, just going crazy with the visuals. Yeah. I was waiting to see the music videos. I'm glad you mentioned that you got the lyric video up. [00:10:02] Dan Runcie: Yeah. And of course, you know, like that's a great way to get the views and engagement up, but yeah, seeing the Eshu Tune visual character, I feel like that is, you know, the next piece of this.[00:10:11] Hannibal Buress: Yeah, I've been holding off a bit on the music videos 'cause I know when I got to know, when I do officials, that's when things are really shifting in a way. And so I don't want to rush it, but, you know, they come in over the next month or so, is when the visuals start. I got some recorded already. I got some for Back In The City. I recorded in Thailand actually. When I was in Thailand and I looked on Eventbrite and it was a restaurant packaging conference at the convention center. I was like, let's just go here. And I went and it was all this interesting, just different machinery and robotics. Me and my lady just walked through, something just to, you know, just a different environment. I said, man, well, I'm over here. What else am I going to do in Thailand and it's a convention? I have to shoot a music video. So I came back two days later, shot the video there. And so I got that. We got one for Closed Mouths. We got a Pocket video, got a version of the Veneers video, but I want to do a story version. So, yeah, I got some stuff, I got 'em locked and loaded, just, you know, got to go get 'em out. That's one thing too, is since I am independent, I don't feel, I just kind of do it when it feels right, when it genuinely feels right to do. It's no pressure. It's just like, okay, do I truly want to do this? Ain't no exec, hey, you got to do, there's nobody doing that, so I have to make that decision, which is a gift. I wouldn't say it's a curse, but it forces that accountability.[00:11:44] Dan Runcie: Yeah, with that, too, I feel like, with you, you're an independent artist who also has the luxury of this platform of your comedy that has given you not just the resources, but the platform to be able to get booked on shows or to be able to get at festivals or other things like that. How do you look overall in terms of how you view your career as an independent artist and wanting to see that through? Do you see a major label in the future? Do you see building what you have clearly with the resources that you have from your comedy and acting to be able to push off for that? [00:12:19] Hannibal Buress: I think the major label thing isn't something I'm chasing. I would hear them out, you know what I mean? I would take a meeting or a call just to hear the right pitch and see. But before I even would do that, I would have to give myself at least a year or so of operating full speed. [00:12:42] Dan Runcie: Right.[00:12:42] Hannibal Buress: 'Cause now I'm in the coast, I'm doing a good amount of shows and having fun, done a couple of festivals this year with, you know, no visuals out. So I would have to give myself all of 23 of like going, you know, with a full staff, you know what I mean? My whole infrastructure, putting out everything, like really, really going crazy merch, all the whole thing, and then see how I like that. And then see what we could do from there. But for now I kind of got an idea of how…

    Full show notes at the publisher

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