In 2007, 50 Cent released the music video for “I Get Money,” the third single from his third album. While most artists at the time were waiting for marketing budgets to be approved and allocated from their labels, 50 Cent (whose real name is Curtis James Jackson III), decided he was tired of waiting for budgets to shoot and promote his music – especially when he was inspired and motivated. Instead, 50 Cent shot the video with his own money and waited for reimbursement.
I had a chance to sit down and speak with 50 Cent during CES, where he was promoting his up-and-coming line of high-end headphones, produced by SMS Audio, of which he is CEO. Unlike many other headphones branded with an artist’s name, 50 Cent actually has an active role in the company. Musically, he’s been relatively quiet the past few years, but for good reason; while simultaneously finishing up his latest album (the last as required per the contract he has with Interscope Records), he’s been dabbling in acting and charity work. Of course, 50 Cent is also building SMS Audio.
One of the primary reasons 50 Cent branched out to create a more comprehensive personal brand is the evolution of music distribution and how that has so drastically affected how musicians are paid. When 50 Cent first started, artists received a larger cut from album sales, while also benefitting from larger marketing budgets. 50 Cent explained that now, with new albums priced as low as $7.99, those marketing budgets that once helped promote some of 50 Cent’s predecessors and mentors, like Eminem, are gone.
As a result, 50 Cent learned that if he wanted to see success – and see it fast – he had to not only make his own business decisions, but make them with his own money and build a brand around them. As 50 Cent explained, the “I Get Money” video was a prime example of beating the industry at its own “hurry up and wait” game. He also said that often he would make other decisions in which he paid for marketing and promotional materials out of his own pocket and get reimbursed later.
Read More: By Kelly Clay forbes.com
