Tjay was straightforward. "Give me 20%."
Ajay thought only for a split second and nodded. "Deal."
He could handle 20%.
"I'll inform you once the company is registered."
"Good."
It was a little awkward since there was nothing else to talk about, but Ajay suddenly remembered that he didn't get to know what would happen to the music video in the end.
"Tjay, how about the music video for 'Thrift Shop '?" Is it going to be released soon?"
Tjay nodded, "Yeah, in a week, it will be aired on MTV."
Ajay laughed contentedly. "That's good."
However, he noticed that Tjay didn't look so happy about it. "Is there something wrong?"
"Nah, unlucky, that's all."
Ajay was still confused, but he didn't speak because he knew that Tjay wasn't done speaking, and sure enough, he continued.
"The music video was already completed a month ago."
Ajay's eyes widened, and anger flared up. "Then why didn't those fuckers release it?"
Tjay looked at him and shrugged. "The last date for submission of the music video was June 15th."
"So Thrift Shop is not eligible to participate in the VMAs at all. So the guys at BMG delayed the release." His brows furrowed and continued, "But I think the reason why they didn't release it sooner was because of 'Mid-day sunshine'."
"Whitney Washington's song?"
"Yeah, they are investing a lot of money to promote her song and the music video. They should be aiming for the VMA award, so they probably don't want to invest too much in Thrift Shop."
Ajay immediately understood. BMG probably sees Lil Tjay as an unstable asset, where he could leave or stay, whereas Whitney Washington is a diva they just signed last year. She is bound to the company for at least two more years. This was a golden goose that they had to nurture with all their might, so naturally, they were favouring one side over the other.
Now he understood why Tjay said he was unlucky, because no one could do anything about this situation.
Four days later
8th September 1994
Fate works in funny ways. He had thought his relationship with Tjay would eventually break down when he started to work with another artist and even felt a little bad about it, since it was because of Tjay that he entered the industry, but never in his wildest dreams did he imagine Tjay would suggest he open his own studio and even offer to invest.
Although 20% was not a lot, it signified his intentions that he wouldn't hold a grudge if he wanted to do his own thing.
With a good mood, he went to a coffee shop very near his apartment and sat down in front of a man, probably in his early 20s, wearing a slightly oversized coat.
"I'm sorry for the delay," Ajay apologised.
The young man shook his head with a radiant smile. "No need to apologise, Mr Williamson. It was I who came early."
"Ajay will do, or Jay." He stretched his hand, and the young man quickly reciprocated. "In that case, I'll call you Mr Jay."
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"That works."
They both chuckled and ordered the drinks they needed.
"So, Vincent," Ajay put the cup down and folded his hands. "What do you think about the proposition?"
Vincent thought for a moment and asked a few questions. "It's only for three months?"
"Yes."
"$700 per month?"
"Yes, and if everything goes according to plan, I can increase your pay to $1,000 per month and extend the duration."
Vincent felt relieved and nodded. "It's my pleasure working with you, Jay."
Ajay smiled and shook his hand to close the deal.
He finally had a manager.
Initially, his idea was to find an agent, an entertainment agent from CAA or WMA, but Tjay's idea made him change his plans.
He wanted agents since he had no actual way to contact the singers and various artists, and he could use his agent to negotiate with the record companies as well, but since he was now opening his own company, a studio, he felt like a manager would be a lot better.
There was a differentiation between a manager and an agent, because an agent works for the individual artist, whereas a manager works for a corporate entity. For example, most managers do not directly work for the artist. They work for the company founded by the artist. At a high level, this differentiation is very important, since one handles interpersonal relationships and work-related relationships within the entertainment circle, while the other handles everything else.
However, since he was still starting out, the difference was not that large, so he decided to use a manager instead of an agent in the short term. It would be a little inconvenient, as he would have to rely on Tjay's connections to reach out to artists interested in working with him, but once his work became a hit again and his reputation increased, the contacts would grow on their own. Artists, along with the record companies or agencies behind them, would come looking for him, eliminating the need for an agent. As for negotiations, he could simply use a lawyer or even temporarily hire someone well-versed in the industry.
Maybe if the company becomes too big, he would inevitably need one, but not right now.
Ajay went back to his apartment, picked up the new phone and dialled a number. "Could you forward the call to number 725, please?" A voice came from the other end, "Just a moment, sir."
Ajay patiently waited, and finally, a rough male voice answered him.
"Hello."
"Hey Henry, it's me, Jay."
"Hey bro! What's up?"
"I met your nephew."
"What do you think? Suitable?"
"How would I know? He hasn't started to work yet, but he did agree to help me out. Just wanted to let you know."
"Thanks, G."
"No problem." Ajay smiled and put the phone down.
When Ajay informed Henry and others in the crew the other day when they met for a drink, about his idea to start a studio and about Tjay investing in it, Henry suddenly said that he had a nephew who had just graduated from a business school and was looking to intern. He suggested trying him out, and Ajay, since he didn't have anyone in mind, agreed, hiring a new graduate was cheaper than getting a real veteran manager anyway.
The average salary of a low-level manager was around $20,000 per year. Ajay made some money on the tour, but it was definitely not enough to hire a manager of that level.
Adding his personal savings and the money from his mother's accident compensation and what he got from Tjay for selling the song, and from the record studio for the creative idea for the music video, it was only around $13,000, and given that he made another $10,000 during the tour helping Tjay out, he had a total of $23,000.
Although it was a huge amount, since that was the annual salary of a middle-class family and he made half of it in two months, he was not making any more money any time soon. Even the mechanical royalties as a songwriter that he should receive would only be available to him at the end of the financial year. Even then, the royalties were only around $12,000. If the music video boosted the mechanical sales, then it would increase, but otherwise it would be capped at around $15,000.
Putting aside the $3,000 he needed to live, he had to handle everything within $20,000, and given that Tjay was willing to invest 20%, give or take, he had a budget of $24,000.
He employed Vincent for around $2,100 for 3 months, and the remaining amount he had to use carefully for everything else. His goal was to make a proper record with the remaining money.
21,000 odd dollars as the entire budget to make a gold-rated record was not a lot, and that was the main reason why he didn't even think about employing a lawyer. He settled for a temporary one instead, the one that charged $50 to $60 on an hourly basis. And he couldn't even get the Nokia mobile phone he wanted and settled for a landline since that thing was $1,000.
Finally, a day before the music video was released on MTV, Ajay officially registered a company right in Burbank and named it Jay Studios.
Since he was living alone and was already on a budget, he didn't try to rent a separate venue and hung a small signboard right on the door, making it the headquarters of Jay Studios.
Vincent did look at him weirdly since he was asked to make the living room his office, but Ajay didn't care and waited for the release of the music video with anticipation.
P.S. For reference, the cost of a landline telephone was only $50 to $60, and even the most expensive ones were $100 to $150, whereas a Nokia phone, a handheld at that time, was $1,000, so Ajay didn't have the budget for that anyway. Moving on.