Jonny Shipes is closing the doors of his renowned label and management company Cinematic Music Group after sources tell Billboard that he sold the firm’s catalog to Interscope Geffen A&M in an eight-figure deal. While one door closes, another opens for Shipes, as his latest endeavor begins today (Aug. 2) with the announcement of his new full-service entertainment company GoodTalk.
GoodTalk will have multiple legs within the company, including talent management, film & television production, festivals, clothing, and a new record label. To kick off GoodTalk, Shipes will partner with Geffen Records on the major label side and Virgin Music on the independent side to provide an array of artist deals in a “unique and unprecedented way.” In return, IGA will work on the catalog that Shipes established under his reins at Cinematic while reeling in new talent under his GoodTalk umbrella. GoodTalk has a Hot 100 single that debuted on the charts this week, coming from Shipes’ newest single, That Mexican OT with “Johnny Dang” featuring Paul Wall and DRODi.
“Jonny has built a singular aesthetic through Cinematic, and we’re looking forward to working closely with him and his team as they launch GoodTalk,” says John Janick, chairman and CEO of Interscope Geffen A&M. Adds Tom March, president of Geffen Records: “Jonny has had decades of experience in identifying and nurturing artists who have contributed in important ways to popular culture. We’re excited to be working with him on this new chapter.”
GoodTalk will also be home to Shipes’ burgeoning film and TV company 4Lifers Entertainment, a partnership between him and his management client, comedian, Druski.
Founded in 2007, Cinematic Music Group boasted a roster of high-octane MCs in its early days, such as Nipsey Hussle, Big K.R.I.T., and Joey Bada$$. Pop singer Sean Kingston also was under the label when he notched his first Hot 100 No. 1 single, “Beautiful Girls,” and his top 10 record, “Take You There.”
