In a perfect world, record labels and artist would always see eye to eye. Unfortunately that’s not the case—just ask Wiz Khalifa.
Rostrum Records is planning to sue Khalifa for over $2 million dollars, about $1 million more than what Wiz initially sued them for earlier this month. However, money isn’t the issue. Wiz is battling to get out of a 360 deal gone sour after Wiz allegedly did not comply with what it entailed. As an agreement Rostrum Records was supposed to get 15 percent of all music and touring royalties, and 20 percent of profits made from merchandise. Apparently Wiz wasn’t having it and filed a “factually baseless and legally meritless” lawsuit.
President of the label Benjy Grinberg made a statement about the battle of the lawsuits. “Thirteen years ago, we started Rostrum Records as a label that would support and nurture the artists we believe in. We are very grateful that Rostrum has been able to achieve that goal and provide a strong, family atmosphere where meaningful relationships with the artists is our top priority. To give everything you have to an artist and then to be on the receiving end of a fabricated lawsuit is deeply disappointing. What was alleged is, in fact, the complete opposite of our actions and the antitheses of what Rostrum Records and I stand for. Rostrum looks forward to quickly addressing these baseless claims so we can continue to focus our energies on our artists’ success.”
The 360 deal has become synonymous with highway robbery in the music industry. Wiz isn’t the only one who has had an uphill battle with his record company in regards to the allocation and distribution of money. In the digital era where more and more artists are turning to organic discovery via the internet, there is still no telling when the sweet and then sometimes sour outcomes of 360 deals will end.