Meek Mill Wants To Start New Record Label, Seeks Loan

Meek Mill has gotten away from the Diddy speculations and moved on to do big things instead. He recently took to Twitter to discuss his struggles finding a bank to do business with for the new record label he is starting. He asked his fans for advice on which banks he could work with for the music business. Meek emphasized that the overhead of making music is low, but working on a project can cost up to $5 million, while a hit song can make up to $25 million. He also stated that regular hits can make up to $10 million at a low, but they do not get data from labels on how much money each song makes quarterly.

Meek further clarified that he wants to build his record label and partner with an existing label, but he still needs to find a bank or investor to help him with the finances. He emphasized that he has been handling millions since the age of 23 and has ten other businesses, and he doesn’t need money from just labels. He wants to build his label and be the one in charge. He also clarified that he and Rick Ross remain on good terms as business partners. They handled the business and are still getting money from every direction.

In response to his post, his fans shared many ideas and advice. One user suggested that Meek should focus on value rather than exact numbers. They suggested shifting the conversation and emphasizing what he brings to the table. He should discuss his audience size and demographics, such as age, interests, location, engagement levels, etc. Another user suggested that navigating a deal without complete insight into his streaming revenue can be challenging. To tackle this, artists often work with a team that includes a music business lawyer, manager, and financial advisor. They would help him navigate the deal without compromising his creative spark.

I was just hungry… I don’t think it was Ross fault either I don’t think none of us understood the business like we do now from 2011 … he was my power marketer I asked him to get me on tv because I knew what I could do…. He invested in my early salute!

— MeekMill (@MeekMill) March 11, 2024

 

How can you actually negotiate a deal if you don’t know how much you streaming in dollars monthly … most of the times artist get confused in business and lose their creative spark

— MeekMill (@MeekMill) March 11, 2024