A lot of big names in the music industry are stepping down from their CEO roles, including 300 Entertainment’s Kevin Liles, Sony Music Nashville’s Randy Goodman, and Warner Music Japan’s K Kaz Kobayashi. According to Joe Budden, it’s a warning sign that tough times are coming for some of Hip Hop fans’ favorite artists.
“I think that Kevin Liles stepping down or being removed speaks more to the music industry shakeup that’s going on and the reshuffling of consumption,” Budden said during his eponymous podcast on Saturday (Sept. 21), noting that the record exec’s decision was not related to Diddy’s recent arrest.
“A lot of people [are] stepping down [and] a lot of people [are] getting fired,” he continued. “Y’all ain’t about to get a whole lot of music from a whole lot of labels. If I’m any artist on Atlantic [Records], I ain’t putting s**t out. That’s how I f**ked my career up at Def Jam.”
Atlantic, which houses the likes of Cardi B, Lil Uzi Vert, Lizzo, and Roddy Ricch, notably announced even more employee layoffs on Thursday (Sept. 19). The move came in preparation of 10K Project’s Elliot Grainge taking over the company starting Oct. 1.
“The only people that feel comfortable there are the people that have a direct relationship with Elliot Grainge. Other than that, you’re probably not getting your money approved, your budgets approved, your release date approved, your artwork approved,” the “Pump It Up” artist concluded.
Budden isn’t the only person taking notice. On Friday (Sept. 20), Meek Mill tweeted, “Why [are] all these CEOs stepping down?” In the comments, Twitter users replied with everything from “Bro, read the room!” to “The labels are restructuring.”
Elsewhere on the “Joe Budden Podcast,” the hosts discussed Future’s featureless MIXTAPE PLUTO and the 76th Primetime Emmy Awards, to name a few topics.
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