Gucci Mane’s career as a music executive hasn’t been quite as successful as his career as a rapper. Over the weekend, the Atlanta MC got pretty personal about his business venture, 1017 Records, sharing that it has not been going well lately.
In a video posted on Instagram, Gucci said, “I just seen my P&L with all my artists. You know it’s a whole shit show in the industry right now, but when I’m looking at my P&L, and me being a businessman, I think that I’m going to have to release almost all my artists, except for Pooh Shiesty and Foogiano.”
At this moment, Bic Fizzle, BigWalkDog, Brezden, Hotboy Wes, Kato2X, Li Rye, Lil Zay, Mac Critter, FTO Sett, and TLE Cinco, according to the 1017 Records website.
He later added in the video, “This is a decision I didn’t want to make. I thought about it. I could keep all of them under the contract. But I said hey, f**k it. Let’s just make the unselfish decision, and let them take they talents elsewhere.”
Before this recent announcement, it was already pretty clear that 1017 Records was going through a rough patch. His most popular artist, Pooh Shiesty, was sentenced to five years and three months in prison on multiple federal charges that included conspiracy to possess firearms in furtherance of violent crime, discharging a firearm in furtherance of a crime of violence, and two counts of robbery in violation of the federal Hobbs Act in April 2022.
Another one of his more popular acts, Big Scarr, died in December 2022 from an accidental drug overdose. Enchanting, a rapper who left the label after releasing her debut album, “No Luv,” in November 2022, also died from an accidental overdose in June.