6 Independent and Business Savvy Hip-Hop Labels
Cash Money Records is a record label founded by brothers Bryan “Birdman” Williams and Ronald “Slim” Williams. It operates as a subsidiary of Universal Music Group, and is distributed by Universal Motown Republic Group. For its first few years, Cash Money (known as Y.B.M.G) released a few local by artists, selling hundreds of thousands of albums without ever releasing a music video or having a Billboard hit. That all changed when, in 1995, the label signed young rappers B.G. , Lil Wayne and Juvenile. Cash Money’s big break came in 1997 when the label caught the attention of Universal Records executives. In 1998, Cash Money signed a $30 million pressing and distribution contract with Universal, entitling the label to 85% of its royalties, 50% of its publishing revenues and ownership of all masters. That year, Juvenile’s album 400 Degreez was certified 4X Platinum and carved Cash Money’s place as a powerful label in the national hip-hop scene.
Between 2001 and 2003, the label sold 7 million albums. In 2007, former Hot Boy member Lil Wayne was named president of Cash Money Records and CEO of Young Money Entertainment Aka Y.B.M.G, giving the rapper full creative control over all releases under the two labels. Later that year, however, Lil Wayne stepped down as president to focus on his career, especially Tha Carter III. In 2008, Lil Wayne re-signed with Cash Money, ensuring that his next few albums will be produced by the label. On August 5, 2010 production group Cool & Dre signed with Cash Money Records. They are the first in house producers since Mannie Fresh. In August 19, 2010, Birdman signed DJ Khaled to the label, being the second producer in the label and the first Disc-Jockey ever.