The future looks bleak for Jermaine Dupri’s TAG Records. According to a report by Woohah.com, the failing economy and lack of buzz surrounding the label has TAG Records facing harsh times.
A venture between Def Jam Records and Proctor & Gamble’s TAG Body Spray [click to read], TAG Records has cost Proctor & Gamble, millions of dollars due to the labels pricey print and television ads.
According to reports, Proctor & Gamble plans on cutting TAG Records’ budget drastically in the near future. The company also plans on cutting off JD’s involvement with the label. When Dupri was let go from his job at Def Jam a few months ago, he was able to keep his job as president of TAG Records, but now his future at the label is questionable.
In an interview with Essence magazine, JD expressed his doubt regarding TAG Records and his firing at Def Jam.
“I don’t know what’s going to happen and that’s the saddest part in dealing with these situations,” Dupri told Essence. “They try to keep the group to hurt the person who brought these artists to them.”
Although JD has shown some doubt regarding the future of TAG Records, Q Da Kid one of TAG Records artists, remains optimistic.
“Must say I’ve been doing a good job so far,” Q Da Kid explained on his blog. “The album is in the works, TAG Records is still intact and believe it’s gonna be classical!’”
Neither Proctor & Gamble nor TAG Records have released a statement on the future of the label.
