By Sheryl Nance-Nash
Some call Lil Wayne one of the greatest rappers of this generation. Next month, he’ll resume the spotlight when he walks away from an eight-month prison sentence for criminal possession of a weapon. It seems he has the power to keep going, going and going. Maybe he’s letting the world in on his secret with the release of his latest album, I Am Not a Human Being. Is he really Superman of the music industry?
“First and foremost, he is a veteran, able to sustain his longevity and maintain his street credibility,” says Darrell Miller, a former singer/performer and co-chair of the entertainment practice at the Los Angeles law firm of Fox Rothschild. “He hasn’t lost his edge. More importantly, he continues to have critical acclaim.”
That acclaim translates to many, many dollars. In fact, Forbes Hip-Hop Cash Kings for 2010 listed Wayne as number four out of 20, with earnings of $20 million, which includes the sale and licensing of master recordings, concerts, tour merchandise sales, endorsements and songwriting.
With so many one-hit wonders in today’s industry, what’s Lil Wayne’s secret?
The answer: he made hip-hop history with the release of his sixth album in 2008, The Carter III, which sold more than a million copies its first week. It has been certified triple platinum by the RIAA and earned him four Grammy Awards, including Best Rap Album.
Born Michael Dewayne Carter, Jr. and raised in New Orleans, his career started at age 12 when a friend introduced him to Cash Money Records Co-CEOs and brothers, Ronald “Slim” Williams and Brian “Birdman” Williams. In 1993, Lil Wayne formed a duo with label mate B.G. and released the underground EP True Stories. Four years later, the duo formed the group Hot Boys with Juvenile and Turk. Their debut album, Get It How You Live, sold more than 500,000 copies. More importantly, the album persuaded Universal Records into making a lucrative distribution deal with Cash Money, according to Lil Wayne’s official website.
In 1999, he made his debut as a solo artist. The Block is Hot sold more than two million units. But it was the release of Tha Carter series that solidified Lil Wayne’s place among hip-hop’s elite class. Since 2007, he has been selected as “Hottest MC in the Game” numerous times by MTV; ranked “Rapper of the Year” by The New Yorker, and “Workaholic of the Year” by GQ. In 2008, he became the first hip-hop act ever to perform at the Country Music Association Awards alongside Kid Rock.
What’s unique about Wayne, says Miller—whose clients include Ludacris and Outkast—is the way he has leveraged ownership. In 2003, he founded his own label, Young Money Entertainment, under the imprint of Cash Money. “Wayne really understands that you don’t just stay on a record label, it’s about ownership,” adds Miller.
Wayne has a Platinum selling entourage including Drake, Nicki Minaj and Tyga. “Now Wayne gets a piece of them, much like Cash Money gets a piece of him,” says Miller. “Just what he’s getting from Drake alone must be huge.”
The key to Wayne’s success has been his focus. “He’s made music his biggest play. That’s why he has longevity,” says Miller. “He’s about to release his eighth album; that’s almost hall of fame status.”
Though there have been limited endorsements, and the recent news that Young Money is releasing a pre-paid debit and credit card, Wayne’s goal has been to dominate one thing: music. Unlike his counterparts, a la Diddy and Jay-Z, who are furiously tapping into other ventures outside of music such as apparel, alcohol, real estate and movies, Wayne is “creating music, not diluting himself, [nor] trying to be friendly with corporate America,” says Miller.
Wayne has produced eight albums in 11 years. He’s been featured on albums with the likes of Jay-Z, Kanye West, Chris Brown, Fat Joe, Ludacris, Rick Ross, Busta Rhymes, Birdman and others. His 2008-2009 I Am Music Tour held 78 concerts in North America and grossed $42 million and drew 804,000 fans. Billboard declared it the highest grossing hip-hop tour of the year, and the most lucrative rap jaunt they tracked.
If there’s any flaw in his business strategy, it may be going for street cred at all cost. “Look at where he is,” says Kendall Minter, an entertainment attorney with Minter & Associates in Stone Mountain, Georgia. “It’s ignorance that makes celebrities believe they are above the law—untouchable.”
Indeed, adds Miller, “street cred is a double-edged sword. Wayne has a great empire. At some point he will have to figure out how to transition. He’ll need a plan, an exit strategy, like any good business.”
As long as he keeps it real and raps from his heart, the aura surrounding Wayne may not dim for some time. Minter agrees that he has staying power. The only question is for how long?
Asks Minter, “Will his music be playing 30 years from now? Only time will tell.”
