Lil Yachty doesn't know if he signed a 360 deal. In fact, on the show Everyday Struggle, it seemed that he wasn't even familiar with the term.
In short, a 360 deal is when the record label gets a percentage of all of the artist's revenue streams. So besides record sales, the label could get a piece of an artist's show money, his merchandise, his endorsements, his TV and movie appearances, etc. They are becoming the norm in Hip Hop, and many believe they are exploitative of young artists.
"Are you in a 360?" Joe Budden asked. "I don't know. Am I?" Yachty replied.DJ Akademiks asked if the rapper's label gets a cut of his deal with Sprite.
"I don't know," said Boat. "I know I have an amazing deal. I have an amazing attorney ... I heard about it (360 deal). You'll have to explain it to me."Afterwards, the rapper's fans expressed concern about his business practices, so he took to Twitter to explain himself.
Y'all gotta understand just because I didn't know the term name " 360 Deal " Doesn't Mean I Don't Know What Kind Of Deal I Have.— lil boat kot* (@lilyachty) May 3, 2017
I Only Wasn't Aware Of The Term "360 Deal".. I Own All My Publishing & Ive Recouped My Deal. For those So Pressed. Chill. I'm Good.— lil boat kot* (@lilyachty) May 3, 2017
Hopefully, the young dude isn't being swindled out of his loot, and he learns the music business a little more. You can watch Yachty's full interview below.