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Gucci Mane has provided an update regarding his label, 1017 Records. The Atlanta legend revealed he has released all of his artists under the label, with the exception of Pooh Shiesty and Foogiano.

In the Instagram clip, Gucci is seen driving around in his car and speaking about the changes. “What’s up, y’all? Listen, I wanted to make this announcement on 1017 yesterday,” he told the camera before delving into the financial context that made him arrive to the decision. “I just seen my statement and my [profits and losses] with all my artists. You know, it’s a whole bunch of shake up and a whole sh*t show in the industry right now. When I look at my [profits and losses], and me being a businessman, I think I’m going to have to release almost all my artists, except Pooh Shiesty and Foogiano.”

He revealed this move was not made lightly, but had to be made for the bigger picture. He continued, “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 f**k it. Let’s just make the unselfish decision and let them take their talents elsewhere. I already reached out to them and to their lawyers and let them know they’re free to take their talents elsewhere. I’m still looking for new talent to pair with Pooh and Foo. And I wish them the best.”

The “Lemonade” rapper received mixed reactions in the comments. LaVour “Boomman” Sanders wrote, “Gotta do what’s best for business” while Allen “Mr. Be Heard” Stewart said, “This was a nicest way to say there’s only two artists on my roster that are making any money. The rest of y’all can go.”

Gucci’s label has gone through many chapters since its inception. Originally named 1017 Brick Squad, it was founded in 2007 by Gucci Mane and its roster famously included and jumpstarted the mainstream careers of Waka Flocka Flame, OJ Da Juiceman, and more. In 2020, the record label rebranded to The New 1017 and brought forth new talent, including Pooh Sheisty, Big Scarr, Foogiano, Hotboy Wes, K Shiday, Hoodrich Pablo Juan, and Roboy.

However, since then, most of the artists originally signed to The New 1017 have been dropped from the label, sent to prison, or passed away. Big Scarr died in 2022 and Enchanting passed away in June earlier this year. In 2022, Pooh was sentenced to five years in prison and Foogiano was also handed a five-year sentence in 2021.

Aside from representing his label name, “1017” also marks the date Gucci married his longtime partner Keyshia Ka’oir. The two celebrated their 7-year anniversary on Thursday (Oct. 17), with the Woptober rapper writing, “1017 isn’t just about a label it’s always been about family. Happy 7 year wedding anniversary to my beautiful wife @keyshiakaoir Thank you for being in my corner thru the good and bad! Love you 4L.”