The Financial Power of Hip-Hop Emerges

Categories: Luke's Gospel
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Uncle Luke, the man whose booty-shaking madness once made the U.S. Supreme Court stand up for free speech, gets as nasty as he wants to be for Miami New Times. This week, Luke educates readers on hip-hoponomics.

This month, Oprah Winfrey launched her own network -- OWN -- and she's pushing boundaries. By debuting with Jay-Z, she is acknowledging she needs rappers to generate interest and revenue for her new media venture.

I'm happy to see that after spending so many years bashing rap music, Oprah has come to her senses. She's realized she can't have a network that appeals to just vanilla audiences. For her to debut a show called Master Class with Jay-Z, whose lyrics are controversial and explicit, says a whole lot about the direction in which OWN is going.

But it's not just Oprah who is realizing that hip-hop's financial power goes beyond selling records. Last year, journalist Dan Charnas released his book, The Big Payback: The History of the Business of Hip-Hop, which documents the music's influence on corporate America. It delves deeply into how cats such as Russell Simmons and Sean Combs were able to expand their empires beyond the recording studio into fashion and spirits, among other industries.

Hell, these days, liquor brands will do anything to have a product placed in a rap video.
Any time a new bottle of booze is mentioned in a rap record, it becomes an instant hot seller. A bottle that cost $70 becomes a $250 bottle. When corporations hire athletes or actors as spokespeople, it doesn't necessarily mean consumers will go out and buy a product. But when rappers speak, people immediately buy things.

Hip-Hop is beginning to influence even Wall Street. Two weeks ago, 50 Cent urged his 3.8 million Twitter followers to buy stock in TV Goods Inc., a subsidiary of H&H Imports, a Clearwater, Florida, company. He owns 7.5 million shares of the stock, which jumped 290 percent following the tweets. Once he stopped hyping the stock, its price fell from 39 cents a share to 10 cents a share. 

Follow Luke on Twitter at: @unclelukereal1.

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2 comments
Sharpton's_hairdresser
Sharpton's_hairdresser

the powers that be love your demoralizing, violent, sexist, and racist rap. these are the same people that brought crack and crime to south central los angeles in the 1980's, even you think im making this stuff up or delusional why dont you go to youtube and check out the "highway ricky ross story", he didnt realize until he went to court that he was buying crack cocaine from the CIA. the los angeles police dept admitted publicly that CIA operatives approached them directly to allow them to operate the lucrative drug business in the los angeles area. "operation ammadeus" was what it was dubbed. the journalist the followed this story and wrote about it was found in his apt dead, from suicide (apparently shooting himself TWICE in the head with a shotgun), this same reporter had claimed to family and friends that he was being followed and feared that he would eventually be taken out. unfortunately, the black community continues to be "pimped" out by the powers that be, by the controlled media and the so called "war on drugs". also, your beloved oprah is nothing but a pawn, she regularly attends bilderberg meetings with the so called "vanilla elite". i truly sympathize for you and those like you, who will probrably never realize what the real game is. margaret thatcher was a "liberal democrat" who was nothing more than a promoter for eugenics, whose agenda was to rid the country of "useless weeds". on record those close to her and that assisted her in planned parenthood programs had nazi ties. again, if you think im making this stuff up go to www.blackgenocide.org.

Ppapadelis
Ppapadelis

And the SEC is now investigating 50's oh so stupid "pump and dump" scheme. I truly hope he gets fined and learns not to be a chump in the stock market. Idiot.

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