11/19: Diddy on 360 Deals
Crain's New York Business.com spoke with Diddy on 360 deals. These are "ventures designed to give them a piece of all the revenues that come an artist's way."
Executives say monetizing and sharing in every aspect of a performer's career--from recording and publishing to movies, merchandising and endorsement deals--could make up for losses in record sales. But critics argue that the strategy is just another way for the majors to take money out of an artist's pocket
"Right now, everyone just says this brand-building concept out of their mouths so easily, claiming it's revolutionizing the industry," he says. "But it takes a certain type of superstar who understands at all times what it takes to be in the middle of a 360 situation. This is not going to solve the labels' problem."
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