No Limit Records
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| No Limit Records | |||
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| Parent company | Gutta Music Entertainment | ||
| Founded | 1994 as No Limit Record Store | ||
| Founder | Master P | ||
| Distributing label | Koch Records | ||
| Genre(s) | Hip Hop, Southern Rap | ||
| Country | US | ||
| Web address | http://www.guttarmusic.com | ||
No Limit Records is a record label that began in the early 90’s as the No Limit Record Shop in Richmond, CA. Through a distribution deal with Priority Records to distribute No Limit Records music, millionaire founder Master P (aka Percy Miller) maintained ownership of all of his master recordings, his studio and became the sole distributor. He and his two brothers, C-Murder and Silkk Tha Shocker, were the label's main artists, along with a series of contract stars including, at various times, Mystikal, Snoop Dogg, Mac, and Lil Romeo, Master P's teenaged son.
The company filed for bankruptcy on December 17, 2003, due to various frivolous lawsuits against the company. Master P realized it was more sensible to shut down No Limit and reorganize and refinance the company with profits from No Limit Records, which he named "The New No Limit Records. In 2004, Master P reorganized the label as "The New No Limit Records", and moved to Koch Records for distribution. The New No Limit is now in partnership with Master P's own distribution company, Gutta Music Entertainment.
[edit] Sales statistics
- First two records sales released independently (1994-1996): 350,000
- First two years sales in cooperation with Priority(1996-1998) : 28 million (75 million worldwide)
- Income (85 % of interest) (1996-1998) : +250 million$
- Combined revenues of No Limit Records and No Limit Film for 1998 : 160 million$
