Audio After The Jump
As we previously reported 50 Cent has unveiled details about his new 50/50 deal for artists that Shawty Lo became the first to sign.
The Atlanta rapper spoke with MTV yesterday and further explained why 50's offer was more appealing to him than the 360 deals major labels are now offering.
"I'm just not a believer in a 360 deal. I feel like I can make my own money before I let a label come in a give me a 360 deal," Shawty said. "You don't have to give me a whole lot of upfront money to do a 360. I don't need that."
The unpopular 360 deal allows labels to get a piece of not only record sales, but touring and merchandising as well.
The 50/50 deal covers all overhead costs. Once Fif recoups promo and recording costs, Shawty splits all income from records 50/50 and doesn't have to share touring or merchandising.
Shawty added that he just felt more comfortable dealing with someone who came up from the streets like he did and made something out of nothing.
"I just felt like 50 would be the best situation for me, man, because my life story came from where my life story came from: turning a negative into a positive," he explained. "It feels like it's familiar with 50's life. That's why I ran with him. Another label could've offered me five times what 50 offered me. I just feel like 50 was the perfect opportunity for me. My vision for the label is straight to the top. I'm working very hard to get my label to where I need to be. To be a big label in the South, all I needed was somebody behind me who could believe in me, who could relate to what I done been through, and I think 50 is the person to do it."
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