This essay describes the relationship between rap artist Eminem with his record label, Interscope Record, as well as the basic principal/agent relationship between Detroit Rap and the labels that represent these rappers.
Written in 2008; 2,980 words; 9 sources; MLA; $ 87.95
Paper Summary:
This essay assesses the relationship between Eminem and his "agent", record label Interscope Record. Specifically the author aims to distinguish between a musician and his agent and the greater realm of principal-agent relationships - that between Detroit Rap and the labels that represent these rappers. Furthermore, the essay analyzes the relationship of Shady Records, Eminem's record label, which is controlled by Interscope Records.
Outline:
Introduction
Objectives of the Interscope/Eminem Relationship
Rewards of the Interscope/Eminem Relationship
Incentive Problems in the Interscope/Eminem Relationship
Reward schemes that are used to address the incentive problem
Conclusion
From the Paper:
"In terms of how well these reward schemes alleviate the incentive problem, this reward scheme is perhaps one of the only things that keeps Eminem's controversial behavior in check. Empirical evidence that supports the use of these reward schemes is the fact that every major music artist in the world (even British pop sensation Lilly Allen, who famously started as an independent "My Space" music sensation) must sign with a record label in order to maintain career success. When artists do not reign in their controversial behavior, they are dropped - as Eminem alum and rapper 50 cent was dropped by Trackmasters/Columbia records when he was involved in a shooting accident (Internet Movie Database). At present, this existing incentive scheme seems to be the best and only one."
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