Gucci Mane is downsizing. VIBE Magazine reports the rapper has released all but two artists from his 1017 Records. Pooh Shiesty and Foogiano remain the label’s only acts on the label.
In an Instagram clip, the rapper is driving around as he makes the announcement to his millions of followers. “What’s up, y’all? Listen, I wanted to make this announcement on 1017 yesterday,” he said, before noting the decision was based on finances. “I just seen my statement and my [profits and losses] with all my artists. You know, it’s a whole bunch of shake up and a whole sh*t show in the industry right now. When I look at my [profits and losses], and me being a businessman, I think I’m going to have to release almost all my artists, except Pooh Shiesty and Foogiano.”
Videos by PopCulture.com
He added the decision was one he thought long and hard over. “This is a decision I didn’t want to make. I thought about it. I could keep all of them under the contract, but I said f**k it. Let’s just make the unselfish decision and let them take their talents elsewhere,” he said. “I already reached out to them and to their lawyers and let them know they’re free to take their talents elsewhere. I’m still looking for new talent to pair with Pooh and Foo. And I wish them the best.”
The rapper has had a tough few months with artists, current and former, on the label. Just recently, Mac Bre-Z, who was once signed to his label, says he stole music credits from her that she was not cited for or paid for, and that he also physically assaulted her during their previous romantic relationship.
In June of this year, his protegee, Enchanting, died at the age of 26. An autopsy later determined it was due to an overdose.
