Jonny Shipes, the founder and CEO of Cinematic Music Group, his reportedly sold his company to Interscope Geffen A&M in a huge eight-figure deal.
Though the transaction’s exact amount hasn’t been revealed, Billboard reported that Shipes has handed over his label and management unit over to Universal Music Group, though he’ll continue assisting Geffen Records and Virgin Music to help develop talent.
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Geffen Records president Tom March praised Shipes’ track record, saying: “Jonny has had decades of experience in identifying and nurturing artists who have contributed in important ways to popular culture. We’re excited to be working with him on this new chapter.”
In its 15-plus years, Cinematic Music Group cultivated the careers of artists such as Big K.R.I.T., Nipsey Hussle and Sean Kingston, among others.
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On Wednesday (August 2), Shipes launched his new entertainment organization, GoodTalk, which will double as a record label and talent management space. Additionally, it will house clothing brands and festivals as well as 4Lifers Entertainment, a production company the entrepreneur started with Druski.
Joey Bada$$ is one of the artists Shipes has teamed up with in the past, and at one point, they wanted to become the new Dr. Dre and Jimmy Iovine.
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“We wanna be … Dre and Jimmy if you will, but Jonny and Joey and on our own shit in our own way,” Shipes said during a 2015 interview with Billboard.
Throughout the conversation, the pair discussed a variety of topics, including their plans to build the label over the coming years. The two worked toward simultaneously energizing Cinematic as well as the Pro Era clothing line and the Smokers Club lifestyle brand.
Speaking specifically on his plans to release new music, Joey Bada$$ refrained from revealing too many details but did outline the lessons he learned from his debut album.
“Any scientist who goes into a lab always experiments, you know what I mean? That’s how I look at it,” he said. “I’m always working up something. I’m never trying to create the same product, the same experience. But right now, you know, I’m just creating. I learned so much from B4.Da.$$. My biggest lesson that I probably learned from that album was never give your title away so far in advance.
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“I had fans down my neck for over a year. Now I know just shut the fuck up until like two weeks before. [Laughs] And also, the way the music industry is going, it’s turned into a really innovative type of race. Everybody who’s winning is coming up with new ways to go about things. So this year I’m really just waiting for that to come to me, that one innovative thing that I try to take my next approach with.”
Since then, Shipes and Joey have both evolved a great deal within their respective fields and beyond, with the latter even winning an Academy Award in 2021.
