2 million 5 albums... Wonder what the options look like.
:: DAVID BANNER....THE 10 MILLION DOLLAR MAN
Platinum producer David Banner (Trick Daddy, Pastor Troy, Snoop Dogg, Lil Flip, etc) is one of the rare few producers in urban music who can also rap. Hailing from Jackson, Mississippi, David Banner has built an incredible name for himself throughout the South with both radio play and retail sales for the past 3 years. In the past 2 months, his song featuring Lil Flip, Like A Pimp, has been blowing up the airwaves in the South to reach an unprecedented 500 BDS radio spins coming from just a handful of stations.
Although this comes as no surprise to fans from Atlanta, Jackson, Birmingham, Dallas, or Baton Rouge where Banner has been hot on the streets for years, the industry is now just catching on to the incredible phenomenon known as David Banner. This week, Banner inked an incredible label deal with Steve Rifkind Company and Universal Records Group for his southern flavored record label, b.i.G. f.a.c.e. Entertainment. Banner is known for his smooth southern grooves, his rock influenced beats, for breathing fire during his live shows, and for selling a huge amount of underground CDs throughout the South and Midwest. It is no surprise to many of us that the labels finally caught on and want to own a piece of his franchise!
With a bidding war that included almost every label that matters, this deal negotiated by power deal-maker Wendy Day, quickly reached the $2 million range per release for 5 releases. Banner finally chose SRC because "Rifkind has an incredible track record and is a marketing genius. SRC is partners with Mosaic (managers of Jim Carrey, Daymon Wayans, and owners of Dick Clark Productions, etc) that will give me access to film, television, endorsements, and sponsorships. Why wouldn't I want to be partners with that since that is the wave of the future for artists?" SRC partnered with Mosaic late last year; according to Steve Rifkind "the deal was done with Mosaic because we know how important branding is in the new universe of the music business. You need to partner up and co-brand these days to get things done."
Steve Rifkind is thrilled to be partnered with David Banner and says, "he truly has a vision from A to Z-- a whole complete package. Plus, he is a great businessman and one of the most talented people that I have ever met-- and I have met alot of talented people. I am really looking foward to working with David Banner and his whole team." Rifkind is the former owner of Loud Records which created such international power houses as: Wu Tang Clan, Mobb Deep, Big Pun, Three 6 Mafia, and others. In 2002, Rifkind left his deal with Sony when things at that major began to sour. With the transitions that have taken place at Sony of late, Rifkind's vision appears to be even more prophetic than most in the industry already felt.
Steve Rifkind Company started the street team concept, and even own the trademark on the words "street team." Happy to be with new partners Universal Music Group on the label side and Mosaic on the marketing and film side, Steve is free to spread his wings and soar again. David Banner will be SRC's first release on April 8. Banner has assembled a team of pure talent and heavyweights in the music business to steer his career forward.
Wendy Day who negotiated this stellar deal added, "I had no idea that all of Banner's hard work would pay off THIS well for him. I attribute it to his incredible production, his ear, his willingness to listen and work hard, and giving the fans what they want. He has worked very hard to get to this point, and I am VERY proud of how he's run his Big Face label and what he has accomplished."
Day has played a big part in many of the best deals in the urban music business such as No Limit, Cash Money, Eminem, and others. It is no surprise that her deals have gone on to set precedent and have helped to create hugely successful artists. "I have not been this excited about a project since Eminem or Cash Money, and I am so happy to see the major labels are back to bidding on multi-million dollar deals. This, along with 50 Cent's recent sales, is a positive sign for the economy of the music business" adds a jubilant Wendy Day.
