The controversial rapper-turned-businessman Kanye West knows how to monetize his art like none other. Newly released numbers suggest he yielded a eight-figure payday after his recent listening party tour, adding to his wealth with his nine-track studio album with Ty Dolla $ign, “Vultures 1.”
West, who legally changed his name to Ye, enlisted Jam Concerts to produce and host listening parties for his latest project in five cities across the world.
Five Cities in Key Locations
Two of the concerts were in North America: Chicago on Feb. 8 and New York on Feb. 9. According to Billboard, both shows generated $2.4 million each.
Both of the American events were organized and executed within a mere 72-hour window from the time of announcement.
He additionally headlined three shows across Europe: one in Milan on Feb. 22, another in Bologna on Feb. 24, and a third in Paris on Feb. 25. Though precise attendance figures for these performances have not been disclosed, the trade publication speculates that all venues, which offered tickets for the exclusive event ranging from $140 to $220, were completely sold out.
The album debuted on Feb. 10, receiving an overwhelmingly positive response from his loyal fanbase. Their enthusiastic reception of “Vultures 1” propelled the collaborative project to claim the coveted No. 1 spot on the Billboard 200 chart for the last two weeks.
Billboard reports that from the first week, the former billionaire earned an estimated $1 million in United States sales and streams. The bulk of this revenue came from streaming, with approximately $892,000 generated from nearly 169 million on-demand streams, with additional earnings from sales totaling roughly $145,000.
This marks Ye’s first album to remain at the top spot for more than a solitary week since “Watch the Throne,” a collaborative album with Jay-Z that held the No. 1 position for two consecutive weeks in the summer of 2011, according to The New York Times.
The Kanye Way of Doing Business
This project from a different standpoint is different than his other projects. Ye has released it completely independent of a major recording platform or label, only hiring Label Engine, a distribution company to help get him on streaming services.
Label Engine promotes on its website that its clients receive 82.5 percent of revenue. However, the “College Dropout” may have pushed to get the percentage that he has been advocating for since 2020.
In a series of tweets shot out in September 2020, he advocated for artist-friendly income splits, suggesting an 80 percent share for musicians.
West also called for contracts to be written in plain language for better understanding and proposed that the actual creators should retain ownership of the copyright in the recordings and songs, leasing them to the record label or publisher for a limited term.
Assuming that West and Ty Dolla $ign are surrendering 5 percent for distribution with their deal with Label Engine, they might have pocketed around $986,000.
The strategies for both the listening parties and the way he is monetizing the album sales help West show the world why he is the fourth-richest rapper in the world.
