MIMS Discusses Lawsuit Against Capitol Records, Claims They Owe Him Millions
MIMS says that after a Top 5 album in 2007's "Music Is My Savior," that Capitol Records paid him "pennies," but owe him seven-figures.
Released in January of 2007, Washington Heights native emcee MIMS scored a #1 Hot 100 song in "This Is Why I'm Hot." In March of that year, the single's success translated to a Top 5 debut of MIMS' first album, Music Is My Savior, which featured Bun B and longtime MIMS affiliate, underground Hip Hop emcee Bad Seed.
The LP was released by the major Capitol Records, a label who at the time, was home to Chingy and fellow Uptown native Fat Joe. "One of the best worst things that ever happened to my career was Capitol Records," says MIMS six years later, in a video interview with Mikey T The Moviestar. Following the album that sold nearly 80,000 first-week copies, MIMS renegotiated with the Hollywood, California-based imprint. "We tried to reconstruct a new deal. Mind you, I had a really great deal," he says. "We put an album together—I think a fantastic album, and they didn't put anything behind it." The album MIMS is referring to included Da Internz-produced single, "Move (If Ya Wanna)." The song and album would be released independently in 2009 as Guilt. Of Capitol, MIMS adds, "It was just a relationship I had to sever."
However, in the interview, MIMS reveals that he's currently seeking millions from his former business partners. "We made a good amount of money from '07 to '08. The problem was, when it was time to pay that money up—my situation with Capitol was—and still, in many cases is—a J.V. deal: a joint-venture deal—which means that after all expenses are paid, you're supposed to split the profits 50/50 with the company," broke down the rapper. "What these companies like to do is, they like to inflate expenses and they like to take away a lot of different money." He accuses the label of evading what he feels he is owed. "Quite simply, it's like stealing money from somebody...They paid us pennies."
Capitol Records is currently home to Hip Hop artists such as Tito Lopez, The Beastie Boys and Just Blaze & Bauuer.
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