Record labels are doing more than just signing artists these days.
French Montana revealed during an interview with DJ Akademiks’ “Off the Record” podcast that labels have started taking out life insurance policies on their signees because of the rise in deaths.
“We was beefing for real. People was like dying and this and that. It was blocking a lot of money. People didn’t want to touch you,” said Montana, who released his independent album Montega last month. “Somebody get shot, your rap friends stop picking up. The label stop picking up. It gets crazy.”
Hip-hop has seen a number of high-profile killings in recent years including Nipsey Hussle, Drakeo the Ruler, Young Dolph, King Von, and Trouble. As a result of the mounting death toll, the labels have resorted to their own life insurance policies.
“Now it’s even crazier ’cause they getting life insurance on artists. At least back then we didn’t have that,” added French.
When Akademiks asked if the labels are “signing an artist in good faith” if they take out a life insurance policy, French said it’s just another way for them to profit.
“You’re preying on his death,” he said. “You’re preying on making millions on his death.”
But he agreed that they’re also being realistic. “You’re supposed to have life insurance anyway, but when the label does it, if you don’t have one, that’s crazy.”
In a recent interview with “The Breakfast Club,” French also spoke about his role in squashing the beef between Diddy and Drake. They both showed up to his birthday party on a yacht not knowing that the other would be there.
“They both like my best friends, so I’m like, ‘Y’all need to dead that,’” he recalled. “So I’m glad that they didn’t even know each other was coming to the party… And they was good friends before that, so when they got there they just sat down and they just spoke the whole night. And I’m like, ‘You see? Y’all was best friends to start with.’”