February 1. 2019

Soulja Boy and L.A. Reid

Music producer L.A. Reid recently signed rapper Soulja Boy to his struggling Hitco music label. Reid raised $75,000,000 for the record label that opened last year, but everything the company has released thus far has been a flop. Reid was photographed with Soulja Boy to celebrate the deal for which the rapper will receive $1,000,000. Soulja Boy does not sell many records. He's popular on socials, but his album sales have lagged. His last album several years ago sold 13,000 copies in its first week of release. His single sales are moderate as well. He has not had a hit in a while.

Despite the news of the deal, many people on social networking kept asking why Reid looks sick. They have a point. Reid looks drawn and his face like it aged rapidly overnight. The past 2-years have been difficult for Reid. He was fired from Epic/Sony Music for sexually harassing and sexually assaulting his secretary, as well as embezzling money. His secretary sued him and the label over the misbehavior. Reid then raised tens of millions of dollars to start Hitco, with investors expecting big returns on their money, but it is not happening.

Reid lost much of his clout in the entertainment industry when he was fired from Sony Music. Therefore, it have proven very difficult for him to get his new recording artists the exposure and opportunities they need to sell well. He's now on the outside of the industry in many ways. A year ago I stated this would happen. I also mentioned the MeToo movement frowning on men like Reid over their exploitative and abusive acts towards women and stated it would hamper his career going forward. 

RELATED ARTICLE

L.A. Reid's Hitco Music Label Is Skidding Towards Closure