YG Chats w/ Steve Stoute (Part 1)
A couple of weeks ago I got the opportunity to chat with Steve Stoute. Steve has definitely done a wonderful job of establishing a solid track record as a power broker in the Music Biz and in the Marketing/Advertising space with Translation (his company for those not familiar). I’ve admired Steve’s grustle since the Trackmaster days & he continues to raise the bar of excellence and achievement in the area of Brand Building. Steve’s company Translation has worked with numerous brands like McDonalds, RBK, Samsung, GM, HP and Carol’s Daughter (which he also runs). We chatted about a range of topics from what motivates him to what its like working with Jay-Z. Check out some excerpts from our conversation, I hope that you find it informative. -!YG
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YG: Thank you Steve for taking time out of your schedule to meet with me. You started your career at Sony Music moved to Interscope and subsequently started PASS. When did you see the writing on the wall that you needed to transition from music to the Ad/Marketing space?
SS: People say that my timing was uncanny when I left, so therefore I get credit for seeing the writing on the wall that digital distribution was going to effect the music business. Just as an entrepreneur expanding my horizons, I saw that there was a synergy between marketing artist and marketing brands. This synergy got me excited about exploring the opportunities in the Marketing space.
YG: As a result of seeing this synergy, you were compelled to start your own company. Can you talk a little about the transition from PASS to Translation to now your own Ad agency?
SS: If you look at the big picture you will see constant natural growth. Outside that one parallel of changing career paths from Music to Advertising, everything else has been a natural progression. You start out as a road manager and move on to becoming a manager…… You get a job at a record company or start you own record company and you grow that way as an entrepreneur. You have to constantly grow as an entrepreneur in order to be successful. I did the same thing a Jay-Z or a Puffy has done with regard to growth. I came to the realization that there was value in having the ability to understand how to market to young adults.
YG: You recently partnered with Interpublic (click here) on your latest venture. How will your business operate differently with Interpublic as a partner?
SS: I don’t expect any changes. What people should expect is more access and seeing us effective in applying youth minded thinking to more brands. It allows us to really speak to brands because Interpublic represents 5000+ brands. You have to grow as a business and being a part of IPG gives us access that is unprecedented in addition to accelerating the growth of our business.
YG: Jay-Z is a partner in this new venture. Some have referred to him as a conglomerate. What kind of cache will partnering with Jay-z bring to this venture?
SS: You are talking about a powerful thinker and a savvy businessman. He understands the insights of what this “culture†is…. He also leads it as far as being that bridge to what will be the next “big†thing. He helps manufactures it as well…. So he see “it†and manufactures “it†… I see his thinking as a key addition to what Translation does.
YG: Are there any plans in the works to take this venture global?
SS: I want to crawl, walk and run with this venture. Right now I am in between the crawling and walking stage. Before I open Translation offices overseas, I really need to get the business locked here (USA) and I think we are on a good path.
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