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Scott Jagow: Another big and diverse company is getting into hip-hop music.
Yesterday, Procter and Gamble announced a new record label to help promote one of its products -- Tag deodorant spray. Jill Barshay explains.
Jill Barshay: Procter & Gamble has partnered with music label Island Def Jam to form TAG Records. It's a new way to finance music. Island Def Jam will pick new hip-hop acts. And Procter & Gamble will foot the bill to produce and promote their albums. Samantha Marshall writes about the music industry for Crain's.
Samantha Marshall: The idea behind that is to sign and groom new artists, but do all kinds of co-branding and marketing to get the TAG name out in the urban music community.
Def Jam gets to cultivate future talent without risking its own capital. For Procter & Gamble, it's an opportunity to sell more deodorant body spray to teens. Jay Gooch is a spokesman for Procter & Gamble.
Jay Gooch: All I can say is I've seen performances. They can be a sweaty experience.
I'm guessing these new hip-hop acts won't be rapping about the evils of Corporate America. But they'll smell good.
In New York, I'm Jill Barshay for Marketplace.