Jay Z is still one of the wealthiest faces of hip-hop but millennial fans feel the rapper is lacking honesty and overall credibility as he continues to expand his empire, according to a report by a marketing strategist. Meanwhile, Cash Money Records is copying Jay Z’s latest creation, a sports agency, and plan to launch their own next year.
When Jay Z entered the hip-hop industry he was more than just another rapper, he became an example of upward mobility after he climbed the entrepreneurial ladder to become the worldwide mogul he is today.
However, according to a recent survey conducted by celebrity branding expert Jeetendr Sehdev, his millennial fans feel that the “Tom Ford” rapper has started to forget his humble beginnings and has lost authenticity in his music.
Sehdev surveyed over 1,000 millennials and discovered that Jay Z ranked relatively low in area of trustworthiness and honesty compared to other popular celebrities.
Jay Z “scored 70 percent lower in the categories of trustworthiness and honesty than did celebrities like actors Morgan Freeman and Jennifer Lawrence,” Sehdev said.
Sehdev said that his research revealed that Jay Z’s image has become one of pursuing money and business ventures “seemingly however he can.”
“Millennials question his approach to loyalty, whether it be to a business deal or his fans,” Sehdev said. “His motivations to just make money can be viewed by this audience as self-centered, even if they may be business savvy.”
One stand out example was when fans begged Jay Z to cut ties with Barneys New York after the luxury retailer was accused of racial profiling. The hip-hop mogul refused to back down from the deal.
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Sehdev also revealed that the random sample who were surveyed were not even sure if Jay Z is involved with his music anymore.
“Millennials question the exact nature of Jay Z’s role in the artistic process,” Sehdev said. “Does he really write his own songs? Is he choosing the artists to collaborate with, or is he just the face of a moneymaking empire?”
Jay Z’s move to launch a sports agency didn’t help his reputation with Millennials either, as many of his fans felt that it was a move made out of a desire for more money rather passion.
It’s also important to note, however, that 1,000 people is a relatively small sample compared to the staggering number of fans Jay Z has obtained globally.
Despite seeing how risky launching a sports agency from a music label can be, Cash Money Records plans to copy Jay Z and launch their own agency in 2014.
The New Orleans based music label has reportedly trademarked the name Visionaire Sports Group and has aligned the group with the Mississippi-based agency Play 2 Win Sports, Inc.
So far there is no evidence that any artists within the label have taken the necessary steps to become certified sports agents, which is a formality that almost landed Jay Z in hot water when he first launched his Roc Nation sports agency earlier this year.