The music industry can be very tricky, and when it comes to ownership, many of the top artists today and in years past don’t own their own masters, which is a problem.
Owning your masters, or master recordings, means that you own the rights to make money from the original song, whether it be through streaming, radio, or television. Irv Gotti, who was the CEO of the iconic Murder Inc. music label, owned 50 percent of the label’s masters.
In the summer of 2022, Gotti sold that 50 percent stake, and while many people were disappointed in the sale, Gotti has a plan in mind.
Gotti plans on using the $300 million he made from the sale to fund his own television series and films, while also owning 100 percent, rather than having to sell stake in his projects for production. He iterates that “I’m selling my past to ignite my future.”
Black ownership is vital for Black liberation, but if there is an offer too good to refuse, like in Gotti’s case, sometimes your past is the best fodder for your future.