Gucci Mane Drops Most of His Artists From 1017 Records
Gucci Mane has significantly reduced the number of artists on his label, 1017 Records, keeping only two on board.
He shared this news in a video on Instagram on Friday (10/18), mentioning that he had intended to announce it the day before, on 10/17, but missed the chance.
Gucci explained that he reviewed the latest profit and loss statement for his label and was not pleased with what he saw.
“I just seen my P&L with all my artists,” he started. “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. 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, fuck it. Let’s just make the unselfish decision, and let them take they talents elsewhere.”
He reached out to the affected artists or their representatives to inform them about the changes. He wrapped up by saying he’s on the lookout for new talent to join Pooh Shiesty and Foogiano, which will be his main focus moving forward.
Both Pooh Shiesty and Foogiano have faced legal issues recently. Pooh is currently serving a five-year federal sentence that he received in 2022, with a release date set for April 2026. Foogiano was sentenced to five years in 2021 for removing his ankle monitor while on probation.
As per 1017’s website, besides Pooh and Foo, the label previously included artists like Bic Fizzle, Big Scarr, BigWalkDog, Brezden, Hotboy Wes, Kato2X, Li Rye, Lil Zay, Mac Critter, FTO Sett, and TLE Cinco.
Just a few months back, Gucci had a more optimistic view of the music industry when he launched a new label and claimed he was ready to make his first signees millionaires in no time.
On July 4, he posted a video on Instagram introducing his new label, So Icy Millionaires, while showcasing $2 million in cash that he was ready to offer to the first artists who signed with him.
“You got the Trap God right here. All these are $100,000 a pop,” he said, showing off stacks of cash in the studio.
Guwop then counted the money in increments of $100,000 until he hit a million.
“That’s what I’m willing to invest in my next superstar ’cause I’m starting a whole new label. Fresh! So Icy Millionaires,” he says. “So who you wanna join my new label ’cause I’m looking for my next male superstar.”
The camera shifts over to Gucci’s wife, Keyshia Ka’Oir, as she counts out another $1 million set aside for the label’s first female artist.
“I got a million for my next female superstar. I got a million for my next male superstar. Who wanna join the So Icy Millionaires? Hit my DM right now. Happy Fourth of July.”