At the Second Estate Records Launch Party, rapper 2Rare was signed by Mel Carter for $800,000 in cash. He then gave him $250k in a Louis Vuitton bag full of cash. Over $1,000,000 in a single night.
“There’s a lot of police here, so don’t try nothin’ funny,” Carter joked after the moment.
After founding Second Estate Records, A&R veteran and businessman Mel Carter embarked on a global joint venture with Warner Records. Talent development is a focus for Second Estate, whose first signee, Philadelphia rapper 2rare, has already achieved success with his viral song “Q-Pid” featuring Lil Durk.
On Saturday night in New York City’s East Village, the Standard Hotel hosted the label’s premiere party. Food, an open bar, and entertainment by Sounds of Reality were provided for the guests. Coach K, the business partner for Carter’s Bonjangle’s franchise, and billionaire Mike Novogratz attended the ceremony to show their support.
According to the terms of the agreement, Warner Records will offer Second Estate’s artists and recordings a full range of marketing and distribution services. Carter will also work closely with Steve Carless, president of A&R, and Karen Kwak as a consultant to the A&R team for the diverse artist roster at Warner Records (EVP and Head of A&R).
Article written by Shawn Grant #TheSource