It's American Brandstand: Marketers Underwrite Performers
July 8, 2008 at 5:29 AM (PT)
Hip-hop and R&B producer JERMAINE DUPRI has discovered best-selling acts like KRIS KROSS and DA BRAT, has produced hits for MARIAH CAREY and JAY-Z, and now runs the Urban music division of the ISLAND DEF JAM MUSIC GROUP. He’s also looking for fresh talent for a new label financed by a company new to the music industry.
The new player? PROCTER & GAMBLE, writes THE NEW YORK TIMES.
The consumer goods giant is part of a wave of companies getting into the music business to promote their own products, essentially becoming record labels themselves.
PROCTER & GAMBLE, for example, is joining ISLAND DEF JAM in a joint venture called TAG RECORDS, a label that will sign and release albums by new hip-hop acts. It is named after a brand of body spray that P.& G. acquired when it bought GILLETTE.
And DUPRI, a music-industry veteran and the longtime partner of the singer JANET JACKSON, sounds quite pleased with his new gig.
"I’ve never seen someone wanting to devote this much money to breaking new artists," said DUPRI, who will serve as President of TAG RECORDS while keeping his position at ISLAND DEF JAM. "Nobody in the music business has the marketing budget that I have."
Read the full article here.