Codie G Talks About Lessons Learned from Fred Goodman’s “Fortune’s Fool”
About the Interviewee: Codie Gopher is the co-founder/General Manager of Slow Motion Soundz, an independent music company based in his hometown of Huntsville, Alabama and home to the successful Block Beattaz production team. In 2007 Codie took on the task of managing the underground powerhouse duo G-Side, which is signed to Slow Motion Soundz. He helped produce seven studio albums on behalf of the group, getting them and the SMS brand features in Forbes, The New York Times, SPIN, National Geographic, NPR, and many other national and international publications. Codie has also helped SMS music land multiple film and video placements. He is a published author and partner with the music blog Originalmattress.co. Codie believes the music and entertainment economy is viable and doable.
Gino: How did you discover Fortune’s Fool: Edgar Bronfman, Jr., Warner Music, and an Industry in Crisis?
Codie: It was a father’s day gift a few year’s ago. It was amazing when I got the book. I was at a transition point, really. G-Side had broken up. We were in talks with RCA to get a deal for them, we had come off the best year of building and touring, and then it was all over. I had been through so much in my personal life as well, that the book arrived at the right time. Creatively, in my daily life, and emotionally I was pretty much at rock bottom.
“I had been through so much in my personal life as well, that the book arrived at the right time. Creatively, in my daily life, and emotionally I was pretty much at rock bottom.”
Gino: Did the book change any of your perceptions of the music industry?
Totally. It’s a story of Edgar Bronfman, Jr., the heir to the Seagram’s family fortune. He seemed to be somewhat of a spoiled brat. He decided to buy into the music industry and bought Warner in 2004. He didn't understand the challenges and he took a business model from the mid 90's and tried to use it as his key to winning. He did this with so much arrogance and ignorance that he would become known as “Fortune’s Fool”.
Bronfman, Jr. felt money could fix everything. He hired Lyor Cohen to run the label because of his success at Warner. He had no clue what was happening with Napster and the age of illegal downloads. He kept throwing money at the old machine and wasting valuable resources instead of sitting back and learning the business. I think the same thing is going on in the business today, even on the indie side. People build it up to make it look a certain way, all the while it’s all for show, with no real business foundation behind it. Bronfman was just on the extreme side of lacking knowledge of the music climate at the time and how to weather the storm.
The book also proved to me that the creation process is so disconnected from the real money that owns the companies. I’m not talking the CEO’s or the faces plastered next to the company logo, but the guys down on Wall Street who really control the assets of these companies. These assets have been moving around for over 100 years.
So to take music, furthermore hip hop so seriously, it had to make sense and cents. I went from reading The Source and XXL to picking up the The Wall Street Journal and looking into magazines like The Economist. My office at one time was filled with National Geographic magazines, just to pull energy from different sources. Truth be told, after reading the book I realized the value of music from our standpoint had changed. Music is now the commercial to gain other opportunities.
“Truth be told, after reading the book I realized the value of music from our standpoint had changed. Music is now the commercial to gain other opportunities.”
Gino: As a manager for independent rap artists, did you find this book depressing?
Codie: Depressing? I wound’t say it made me depressed. Like I said before, the book came to me at a time I had blinders on from the success of G-Side. So when that ended, I was at rock bottom. I was going through a divorce around the same time, so I don’t think Fred Goodman’s work could make me feel any worse than I already did.
Gino: After reading the book, what do you think the single greatest failure of the major record labels has been?
Codie: That’s a good question. I think the greatest failure of the major labels is the fact that they haven’t truly nurtured the indie business minds. Now you have people who could be at the major level, but really don’t want to deal at that level because of the lack of freedom and the restraints. I think the main thing the major label does for artists is appeal to their ego. I think the label can put you in front of a lot of people, but does that really put money into the pockets of the artist? If it does put money in their pockets, for how long? I steady urge people to learn the business. Not just the music business, but the business of self, and how that affects your local town, and how that affects the state in which you live, and how that affects the country, on out to the world. I believe once a person can see that and understand that, the creative piece becomes your priority business.
Gino: What lessons have you taken from this book and applied to your own business model?
Codie: You gotta know when to hold them and know when to fold them (Laughs). It’s wonderful to empower others and their dreams. In that, though, you can’t loose your footing, and you can’t depend on the next person to cradle your next career move in their decision making process. Seeing the changes and the lack of changes that Edgar Bronfman, Jr. made was like having a mirror placed in front of me. Like I said, I had blinders on. Today, I have to invest in Codie, and the accomplishments I have been a part of are my foundation. Some people may not want to continue in music, but that should never deter me.
Gino: Is this book required reading for any of the artists you represent?
Codie: I stress to any artist I come across to learn and know the business. They should know the terminology, speak the language, and know the ledge for themselves. Ninety-seven percent are so focused on being seen, being heard, and trying to make some money because they are the next big thing. Most people I come across think music is their way out of poverty, or a quick lick to buying that house that mama always wanted. For that reason, the true way of getting there is lost in the sauce, because only a few are focused on the ever changing playing field of the music business. Going forward, I don’t want to just deal with ‘pure’ artists so to speak. I want to deal with an artist, product, or situation that is balanced on creativity and business. The infrastructure for business as a whole is set up for that now. So is the book required reading? I would say no, though it would behoove them to read it.
Gino: How important is it for musicians and managers to read books like this?
Codie: I think it’s very important. EJ the Witchdoctor from the Dungeon Family once said, “There are too many voices, not enough writers.” That has stuck with me for almost twenty years now. Too many people are out here are talking like they know what’s going on. They have no credentials, no resume to stand on, and no experience. So why not read and research those people who do? How did I learn about sync? I read it. How did I come to understand how tours are conducted? I read it. I see so many people in management positions doing everything but studying their field. It’s one thing to look like a manager, and be that first line of contact for a particular situation, but if you can’t reference back in your mind to what to do or say, then you can blow certain opportunities. To me, reading brings you closer to your visions and dreams.
“I see so many people in management positions doing everything but studying their field…To me, reading brings you closer to your visions and dreams.”
Gino: What other music business books would you recommend?
Codie: Um, since they don’t pay for the promotion, I will keep some of the gems I have read over the years to myself. They can pay the consulting fee to get that info (Laughs). I will highlight a website, www.futureofmusic.org. This is my new favorite site. The news and dialogue there is where my mind and spirit resides when it comes to music. I know the music blogs are important, but there is no education there. I’m more into the education of the music business and shaping the next upswing in the payouts. I’m out for musicians to have health insurance and death benefits for themselves and their family members.
Gino: How can the Huntsville music scene benefit from the lessons learned in this book?
Codie: It’s hard to say. I’m not as involved as I was ten years ago with the day to day. There is a whole new regime that is handling clubs and a new bed of talent rapping and producing. The guys who are hot aren't the guys we came up with, so that wave hasn't truly developed yet. I compare it to basketball. The guys that were dope ten years ago are getting into coaching, setting up training camps, and getting more into the business of basketball. No matter what level they made it to, they are nurturing the next flow of talent within their control. That’s what a book like this could help with. It could get people asking, “Who are the young hip hop business minds from the city?” Not just the guys who want to rap cause they don’t wanna go hard at anything else in life. And, “Who is going to break the city wide open again?”
“Not to sound like a broken record, but that next breakthrough is going to come from studying, educating, and learning the business, surroundings, and self.”
I think our generation did our part. We had every major label in the city trying to sign somebody. Every major magazine was here. We had guys get signed. We did BET, MTV, and national radio runs. We made that trip from physical to digital. The generation before us did their part to take the city to new levels. We didn't just jump in and say, “We are Huntsville.” We learned from our OGs who kicked the doors down. So as I move forward I try my best to help when I can. Not to sound like a broken record, but that next breakthrough is going to come from studying, educating, and learning the business, surroundings, and self.
Bookshelf Beats is a website run by Gino Sorcinelli. I interview people about books that change their lives, inspire them, and/or make them think differently. If you enjoyed this article consider subscribing to my Medium publication.
