Thursday, April 7th, 2011 at 6:53 pm
Love him or hate him, Jim Jones has made a lot of money at the hands of corporate America. Promoting his latest album, Capo, Jim sat down with Miss Info and discussed how he took Sony for 8 million dollars. “I got to spend a lot of money at Sony” explained Jim, whose last album Pray IV Reign was released as a joint venture with Sony. The Capo went on to say that his deal with Sony soured after the heads of marketing for his project were fired, leaving his budget in shambles especially when he was already over his head in debt. “With spending close to 8-million dollars or something close to that at Sony I figured I’m pretty much in debt for a very long time a lot of grapes and high-class studios. Ask Chung King studios about me. I locked out like a rock star in there. We were spending close $100,000 a month there.”
But when you’re the Capo, you don’t really have to worry about paying back your debt. “They did a big deal over there… it was called Roc Nation. So they gave me one piece of paper that said ‘I don’t owe them nothing, get to stepping.’ He added that after the deal with Roc Nation went through, “they didn’t really care about the money I spent. They used it as a tax write off.”
Jim, who is currently signed to E1, released his fifth studio album on Tuesday. According to Jim, he’s disappointed with the way the album was promoted and feels like it was rushed onto the market. This was stated after he already said, “I don’t care about recouping,” which translates to, ‘my album probably won’t sell that well.’ Luckily for Jim, Dispet is back in full effect and planning the release of a commercial mixtape this summer.