Podcast Summary: The Iced Coffee Hour – An Unfiltered Conversation with BBNo$ | Being Broke, Cashing Out, & Getting Screwed

Release Date: November 24, 2024

Introduction

In this candid episode of "The Iced Coffee Hour," hosts Graham Stephan and Jack Selby engage in an unfiltered conversation with renowned artist BBNo$ (Baby No Money). The discussion delves deep into BBNo$'s unique relationship with money, his navigation through the complexities of the music industry, unexpected international success, and personal insights into maintaining authenticity amidst fame.

BBNo$’s Unique Financial Philosophy

BBNo$ opens up about his unconventional approach to finances, highlighting a paradox where despite significant streaming success, he retains a minimalistic personal spending habit.

• Minimal Spending: "I am the purest form, cheapest human being ever." [00:26]

• Selective Investments: He contrasts his reluctance to spend on personal luxuries with strategic investments in his music career, such as allocating $40,000 for music videos rather than personal use. "I couldn't turn around and be like, here's $40,000 for a music video." [00:26]

• Psychological Barriers: BBNo$ discusses his inherent reluctance to spend money, attributing it to his upbringing and financial education. "I still fought Econ. Like, I just can't spend money." [01:30]

Navigating the Music Industry’s Financial Landscape

A significant portion of the conversation revolves around the intricacies of earning through music streaming, royalties, and synchronization deals.

• Streaming Revenue: BBNo$ breaks down how streaming royalties work, emphasizing that "monthly listeners" can be misleading metrics. "Monthly listeners is someone who comes back and listens to a song twice within a month." [08:45]

• Royalties and Sync Deals: He shares anecdotes about unexpected income from synchronization deals, such as his song being used in a Garfield trailer, resulting in substantial royalties. "Garfield took one of my songs and used it as their trailer. Boom, $300,000." [00:44][16:59]

• Ownership and Labels: BBNo$ maintains his independence, owning a significant portion of his masters to retain control over his earnings. "I'm still independent, so I own all of my masters." [29:56]

The Challenges and Rewards of Touring

BBNo$ elaborates on the financial and emotional aspects of touring, highlighting both the costs involved and the intangible rewards of connecting with fans.

• Financial Strain: He candidly admits that extensive tours can result in financial losses. "It's aiming to do this like 30 tour in Europe and it will net me negative $127,000." [00:59][19:33]

• Fan Experience: Despite the financial drawbacks, BBNo$ emphasizes the importance of providing memorable experiences for his fans. "You give your fans an experience and their fans forever." [00:59][19:33]

• Burnout: The demanding nature of touring takes a toll on his mental and physical well-being. "Burnout is so real. Being a touring act, I think, like, just not having regularity in your schedule really is." [74:44][75:32]

Marketing Strategies and Achieving Virality

BBNo$ delves into his strategic approach to marketing, leveraging platforms like TikTok and synchronization with media to propel his music to viral status.

• Synchronization with Media: The use of his music in trailers and TV shows provides unexpected revenue streams. "I can turn around and be like, here's $40,000 for a music video." [00:26][16:08]

• Social Media Influence: BBNo$ credits platforms like TikTok for substantial boosts in his music's popularity. "The TikTok is really what blew up." [61:06][63:11]

• Investment in Marketing: Reflecting on past decisions, he acknowledges the missed opportunities by not investing adequately in marketing his album. "I didn't spend a single penny on marketing that album." [57:44]

International Success and the Chinese Market

An unexpected highlight of BBNo$'s career is his surge in popularity within China, facilitated by foreign exchange students and strategic use of local platforms.

• Breakthrough in China: BBNo$ recounts how a friendship with fans in China led to sold-out shows and significant financial gains. "We sold out six capacities, all like 900 plus." [66:05][67:11]

• Cultural Impact: His music resonated deeply, resulting in fans getting tattoos and fostering a dedicated fanbase. "People had tattoos of me out there." [66:05]

Songwriting Process and Artistic Integrity

BBNo$ shares his introspective approach to songwriting, striving for authenticity and bettering his craft over time.

• Evolution of Songwriting: He reflects on improving the quality of his songs through experience and understanding what resonates with listeners. "Five years ago, every song I made was like a seven out of ten, now every song I make is at least an 8 out of 10." [39:21]

• Authenticity vs. AI: While recognizing the rise of AI in music production, BBNo$ emphasizes the irreplaceable value of human imperfections. "There's so many imperfections in my music that AI won't make, so it makes it less real." [40:27]

Collaborations and Future Aspirations

Discussing potential collaborations, BBNo$ expresses admiration for industry legends and contemporary artists alike.

• Dream Collaborations: He names Pharrell Williams, Timbaland, and Missy Elliott as dream collaborators. "I've always said, like, Pharrell Williams or Timbaland. Missy Elliot." [84:11]

• Contemporary Influences: Current artists like Levi are highlighted for their unique musical and visual storytelling. "There's something that her music has is just... exceptionally beautiful." [84:21]

Financial Management and Investment Strategies

BBNo$ candidly discusses his personal financial habits, prioritizing saving over spending and expressing a need to optimize his investments further.

• Saving Principles: He maintains a stringent saving rate, often reserving up to 90% of his earnings. "I have a saving principle of, like, at least minimally 70%... I don't spend any of my fucking money." [84:21]

• Investment Choices: BBNo$ invests primarily in high-risk assets like cryptocurrency, while keeping the majority locked in high-interest savings accounts. "During the crypto pump in like 2021, I ended up doing pretty decent. And then I poured it all into bitcoin." [85:27]

• Advice on Financial Planning: Hosts encourage seeking professional financial advice to better manage and grow his wealth. "You might want to look into a financial advisor." [86:37]

Personal Life and Relationships

BBNo$ opens up about the challenges of maintaining personal relationships amidst the pressures of a burgeoning music career.

• Dating Difficulties: Balancing the demands of touring with seeking meaningful relationships proves challenging. "Maintaining a relationship. I am a serial monogamous..." [76:33]

• Emotional Well-being: He acknowledges neglecting his emotional health in pursuit of his career and is actively working on improving it. "I kind of like, don't mind it." [75:32]

Conclusion

The episode shines a light on BBNo$'s multifaceted journey in the music industry. From his frugal lifestyle and strategic financial maneuvers to the emotional highs and lows of fame, BBNo$ offers listeners a transparent glimpse into the life of a modern independent artist. His emphasis on authenticity, combined with a relentless pursuit of musical excellence, underscores the complex balance between personal integrity and commercial success.

Notable Quotes:

• "I am the purest form, cheapest human being ever." – BBNo$ [00:26]
• "Monthly listeners is someone who comes back and listens to a song twice within a month." – BBNo$ [08:45]
• "You give your fans an experience and their fans forever." – BBNo$ [00:59]
• "Burnout is so real. Being a touring act, I think, like, just not having regularity in your schedule really is." – BBNo$ [74:44]

Key Takeaways:

• Financial Prudence: Despite having lucrative revenue streams, BBNo$ maintains a disciplined approach to personal spending.
• Music Industry Insights: Understanding the nuances of streaming royalties and sync deals is crucial for independent artists.
• Touring Challenges: Balancing the financial costs of touring with the intangible benefits of fan connection is a delicate act.
• Marketing Savvy: Leveraging media synchronization and social platforms like TikTok can significantly boost an artist's visibility.
• Personal Growth: Navigating fame requires conscious efforts to maintain emotional well-being and meaningful relationships.

For aspiring musicians and industry enthusiasts, BBNo$'s experiences provide valuable lessons on sustainability, authenticity, and strategic growth within the ever-evolving landscape of the music business.