Competitive times in the hip-hop world are here. According to WBR chairman Tom Corson, "anything that shows promise is being snatched up," reports Billboard.
Juice WRLD, is an example of new rappers who managed to jump from the obscurity of the music world to seven-figure label deals in just a few months.
Lil Pump re-signed with Warner Bros. in early March for $8 million, according to sources.
Lil Xan from Columbia landed a contract worth over $1 million during the past year. As did City Morgue's ZillaKami and Sos Mula (Republic).
Shoreline Mafia (Atlantic) and SahBii were signed by Warner Bros. Records for about $2 million.
"Everyone's competing because urban music is dominating," says a label source as reported by Billboard.
One of Warner Bros. Records' co-chairmen, said, "We're definitely in the middle of a very competitive and expensive moment here with hip-hop acts."
Another factor that adds to this insanity is the Internet streaming and social media, of course, which help boost the popularity among the new artists rising to the top at the speed of light.
What many hot new stars may not understand yet, however, is that a $1 million deal means that an advance has to be repaid.
Source: billboard.com
