It was officially announced yesterday that Rich The Kid, the founder of Rich Forever label will be leaving 300 Entertainment. Rich The Kid also revealed that he has joined Interscope. This news comes just one week before his next album Rich Forever 3 is expected to release. The album is set for a June 16th release, RTK announced the new via an interview with XXL and a series of Snapchat’s.
Rich told the interviewer “I was talking to different labels, Columbia, RCA , Epic,” Rich followed on by saying, “I decided not to sign with Epic even after L.A. Reid offered me a crazy deal. [Senior Vice President of A&R at Interscope] Manny Smith & Interscope CEO John Janick understand me and my vision for myself and also my label. Interscope gave me the opportunity to take over the game completely and that’s what I’m going to do.”
Rumours from reputable sources are saying that Rich left 300 Entertainment because they refused his album to release. The reasoning behind 300 Ent not allowing the album to release may be due to a multitude of factors.
Why Wouldn’t A Record Label Allow An Artist To Release Music?
When an artist has their project/album delayed due to their record label it is probably due to the first week sales. By this I mean that if the artist is expected to sell not that many records the label will delay the release. Whilst the album gets delayed the record label will market the project in attempts to increase first week sales. This may be the case for Rich The Kid and Iggy Azelea, who also had her album delayed.
Things are definitely on the rise for Rich The Kid and his label, consisting of Famous Dex and Jay Critch.