Post-Grammy Awards parties are huge, costly affairs as well as the prime social events for the five major record labels. But, this year Universal Music Group has cancelled its February 23 bash scheduled for Capitale in Soho after the Madison Square Garden awards show.
The New York Post alleged that the reason was that the label feared a "shootout between rival rappers." "Recent violence triggered by rap star 50 Cent’s shunning of a record deal with Universal’s Murder Inc. label has execs on edge, sources close to the situation say," reported the Post. 50 Cent eventually signed with Eminem's Shady Records. In mid-January, the midtown office of 50 Cent’s manager was shot up in a hail of gunfire.
The Grammy party was going to cost the label about $3 million. A Universal spokesperson told the Post "
that the cancellation has nothing to do with fears about a gangsta-style shootout, but that it was called off over economic reasons. With the economy the way it is, it would seem insensitive to be hosting such a lavish affair, where there is an opportunity to do some good."
Even though Universal says the party was canceled due to economic reasons, the label, which has 157 nominations, the most at the Grammy Awards, plans to
donate the $3 million to several New York charities. "Helping those in need during these difficult economic times is a fitting way to pay tribute to our talented artists who have garnered a record-breaking number of Grammy nominations," said the label in a statement.
BMG, Sony, Warner and EMI still have plans for post-Grammy parties.