Nike Sues MSCHF Over Satan Shoe, Apple Invests In Unsigned Musicians | Bold Business
April 6, 2021
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as posted by the channelWelcome back to Bold Business with Philip Michael. Be sure to like, subscribe, and hit the notification bell for all things BOLD, and for more business news.
Today, we’re talking about all things music business and more!
Lil Nas X’s newest single, Montero (Call Me By Your Name), was released with a music video where he slid down a stripper pole into hell and gave the devil a lap dance. This angered religious critics who called it satan worship, a familiar tune to the satanic panic of the 80’s. Doubling down, Lil Nas X collaborated with the art collective MSCHF to create a “satan shoe”. These were limited edition customized Nike Air Maxes, only 666 pairs were made with each paid containing 66 cc’s of human blood in them.
Nike is now suing MSCHF over the satan shoes for using their logo on this controversial shoe. A judge then ordered MSCHF not to distribute any of the satan shoes despite the satan shoes selling out in one minute.
Montero (Call Me By Your Name) debuted on the Billboard Hot 100 at #1.
And now for the world of music business, Apple invests in UnitedMasters alongside a16z and Alphabet. UnitedMasters, which began in 2017, capitalizes on the growing market of unsigned musicians. The company will distribute that person’s music to all major streaming platforms and then takes a fee instead of taking ownership of the music itself, which stays with the unsigned musicians.
The idea of owning your own music instead of it going to a record company has been in the media recently, especially with Taylor Swift re-recording her entire back catalogue.
What do you think this means for the world of unsigned musicians? Let us know in the comments below!
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