Lyor Cohen speaks his piece on Rich the Kid's dissatisfaction over his 300 Entertainment contract.
YouTube's new Global Head of Music Lyor Cohen was in a giving mood as he chopped it up with the Breakfast Club on Power 105.1 FM. The long-tenured music exec has deputized over touch stone moments in hip hop, culminating in his current posting at 300 Entertainment, a venture he helped found with veterans of the industry in the hopes of grooming with street-level artists.
The record label has come under of late, due to Rich the Kid coming out with his intentions to leave. Over the weekend Rich the Kid insisted he follow in the footsteps of Migos and leave the label with plenty cash on the table. Though we still lack the particulars of his deal, it's come to light that Rich is seeking more creative freedom over his Rich Forever project with Famous Dexter and Jay Critch.
Lyor Cohen spoke earnestly during the taped segment, lamented the near-signing of Drake when he was at the helm of Def Jam, and spent a good portion of his airtime going over the Migos/300 Entertainment debacle of 2016. Lyor expressed his concerns of a distribution monopoly and its causal effect on creative disposition.
On the topic of Rich the Kid wanting out of his 300 deal, Lyor Cohen said the Instagram musings were the first he'd heard of his discontent:
"I don't feel good about hearing that, but it sounds like he's a clown. Maybe it's a late night 'something.' Here's the thing. I give money early. I sign a contract early. What about a contract-money doesn't mean anything these days?" responded Cohen to BC's line of questioning. "I don't know what his problem is. He should call me. He has my number. You see if he calls me."
Though Migos complained that their handlers were merely day trading at a passing rate, Lyor Cohen contends that even after 30-odd years he still loves "artist development," and is measurably hurt by the by the list of accusations he's had top contend with over his scrupulousness.
In closing, Lyor Cohen warned Rich the Kid that he ought to reconsider his position because a contract is a contract as stated by the law: "He's gonna have a hard time because we don't play that."