How Ray J jumped from the R&B charts to the C-suite

Ray J, a acquainted face within the leisure commercial, has launched a brand new streaming service in ordinary acknowledged as Tronix. He joined TheStreet to talk about his ride as an entrepreneur, his recommendation to creators and the way his network matches into the streaming commercial at in depth.

Diverse: How Ray J plans to construct a certainty TV empire with new mission

Full Video Transcript Beneath:

CONWAY GITTENS: Alright, so, Ray J, entrepreneur, tune producer, a social media King, let's call you. Thanks for coming to TheStreet.

RAY J: Thanks, man. I'm I'm humbled. So humbled. I'm excited. Like, it significantly is what it significantly is all about. You understand, you work challenging, after which you come to this space that you just see on TV, on every of the video clips, and now you're incredible here. Wow God is nice.

CONWAY GITTENS: So, Tronix network, you're the CEO, you're a brand new streaming service. It be well-nigh about three months ancient now. Yeah so how are you discovering the streaming media commercial?

RAY J: It significantly is the commercial to be in, vastly for us, just by way of the the certainty we target an target market that we pay attention to doing one of many most fitted content subject matter for. And we're in our very personal bubble. But what's good is that I do not call myself the CEO just by way of the the certainty I'm like the founder. My goal is to find the appropriate CEO, find the appropriate CFO, COO, and elevated importantly, the CMO. And so it significantly is in its starting levels, but I prefer to construct it up for about six to eight months. And then start off out to do the appropriate appoint, just by way of the the certainty it significantly is the most fundamental thanks to construct it and put the appropriate building in.

CONWAY GITTENS: And why streaming media. Since the media commercial is now not that fab presently. Yeah, I indicate, cable subscribers are down, the streamers are all competing for one one more. So why get into that space of the commercial?

RAY J: Nicely, it significantly is nice for us just by way of the the certainty I would not call our content subject matter accurately, I would call our content subject matter excessive, excessive drama. I use ratchet within the phrase just by way of the the certainty it presents you the true definition of what it be. But there also should be best some human beings who're relaxed with the diversity of content subject matter that we do. So we're already in our very personal lane. We just live mounted. And if we do would favor to evolve into what the better streamers are doing, then we would start off out doing scripted and, , big finances motion images. But presently, we're just utterly into this loud certainty world. Now we have a certainty thing.

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CONWAY GITTENS: So for the uninitiated, yeah, I understand what ratchet methodology, but for them, what's ratchet?

RAY J: It be dramatic, it significantly is loud, it significantly is over the incredible. You understand, it significantly is drama always. But in our suggests we do have a story arc that leads you to 1 thing best or one thing inspirational or inspiration provoking. So I suppose it significantly is what separates us from the resolution guys who're doing the equal thing we're. Tronix cares in regards to the talent just by way of the the certainty I'm talent and I'm discovering at myself as a certainty famous person and every of the concerns I went by strategy of and I mentioned, once we're on top of things, I am going to make it such a lot of, make it unique, and make selected each person folks that works with us can match the deal on the lower back cease. You understand, they always say the deal is elevated on the lower back cease.

CONWAY GITTENS: So how are you discovering it on the lower back cease? I indicate, there became a time when content subject matter became king, incredible. But then we had all these streamers and so now content subject matter, I indicate, there have been so many locations for it to go. How are you discovering getting content subject matter. Are you discovering the content subject matter that you just would favor to have?

RAY J: Yeah, accurately, we're producing the content subject matter. You understand, it significantly is all us from scratch and our companions at Viacom. I admire BET. I admire VH1. I'm still in commercial with the linear networks. And so our capabilities to me go some distance previous that just by way of the the certainty we're equipped to be elevated volatile on streaming. So that you just just get it uncut. But I just no a human being does TV like us.

CONWAY GITTENS: So Tronix rates, what, 5.Ninety 9 a month. Four.Ninety 9 a month. Does it make match to change into a point of a bundle. Now we're listening to like streamers effort to crew up. Yeah so does it make match for Tronix given your demographic to crew up, and what would you seek in a partner?

RAY J: Nicely, I suppose the goal I'm 100% bootstrapped and it significantly is the scariest thing is to merely put your whole cash into one thing, and you're awaiting a revenue and it takes time. I suppose the better goal for me in all of these streaming systems is to produce all folks who's at their incredible level of certainty their very personal platform. And then if all folks has their very personal bubble and their very personal network skewing to what their followers would favor to appear, then you bundle the entire bundle of the crew, incredible. So that you just construct every network from the ground up.

CONWAY GITTENS: And what does success look to be like for you? I indicate, streamers are notorious for now not giving out subscriber numbers. Yeah, incredible. And so I'm now not asking you for your subscriber numbers-

RAY J: What's loopy is that the human beings who do this may perchance be hiding what they bought to pay, incredible. We're closing in and we're best in three months, perchance about 20,000 subscribers. And these are loyal subscribers. And now with our new lower back cease substances and the presents that we're going to produce now, you're equipped to appear a considerable spike. But even then, all of my companions, I'm great evident. It be now not about me getting cash off of all folks else's death. It be about taking the drama, partnering with us, and we all win collectively.

CONWAY GITTENS: So that you just're now not only a certainty famous person. You maybe also an entrepreneur. It's attainable you should still have gotten had a phenomenal collection of tech contraptions on the market. Are you in a position to keep up a correspondence to us about how what you realized within the tech world, the tech system world, how that interprets to what you're doing within the streaming world?

RAY J: Nicely, I all all began within the tech commercial just a couple of decade ago with my scooters Scooty bike, and I used to be once perchance the foremost hazard I ever took since the wholesale rates on one bike became like $Four hundred, $500, and I gave away like 300 or Four hundred bikes to every of the large celebrities. And that became just by strategy of our marketing funnel, which worked. Proper sort away forward to Raycon, and I hope to shout out to Ray Lee. I hope to shout out to Mr. Lee. Those guys definitely helped me be sure the honour between a definitely over-the-incredible excessive, excessive retail magnitude for a product like an Apple computing tool is $1,000. The scooter became $1,200. And so we came up with new merchandise that I suppose match our demo $seventy 9.Ninety 9, $sixty 9.Ninety 9 for the earbuds. And that's the reason when I all all began to be sure the honour. And then our CMO out of Hong Kong, he definitely stamped counsel to do efficiency marketing. And so now we're incredible here. I do not do any elevated hardware. All of my shares are supplied lower back to the commercial institution. I such as you, Raycon Thanks for letting me just mission off into what I love to do. And human beings two vendors, I'm 2 for two and now taking it to the content subject matter. We do not ship one thing to all folks. We do not get, , returns. So producing content subject matter and establishing a local to me is simply the place I live. And so I'm just more usually than not satisfied that I'm doing this 24/7 now.

CONWAY GITTENS: So that you just juggle, yeah, significantly a phenomenal collection of balls, incredible. And so in relation to productivity, how do you hang every of the balls within the air and point of passion on what you point of passion on so that you just get every of the stuff done that you just get done?

RAY J: Nicely, it significantly is challenging. I indicate, I'm just definitely hands on. You understand, as you're equipped to appear, we now have got been working since 6:00 AM it significantly is the air conditioner is on. I'm still hot. It be an best prefer it significantly is simply the groundwork we put in establishing the commercial institution. It be unmatched and we like doing it. So at situations this may get annoying. My mom helps me. I bought a sturdy crew, my commercial manager, my small squad, we just by strategy of the us of americaand downs, we just try out against by strategy of it. You understand, the entirety is now not going to be good starting this new commercial institution incredible after promoting my shares. I indicate, we all all began the subsequent week of launching it and I in truth have not even took a break. So we're, we're, we're drained, but we're more usually than not satisfied that we're incredible here. And I suppose , after we get better from the mountain, we'll see one thing best - success. I do not definitely understand what that's simply by way of the the certainty I do not have a great time it. I do not have a great time a win. I just we hang going just by way of the the certainty it significantly is simply understand, it significantly is simply our motto. We just don't have a great time.

CONWAY GITTENS: So what. Accordingly of the we're a commercial channel, incredible. What does Ray J do when it significantly is all changing into an excessive amount of. To obtain all these commercial calls, all these commercial meetings, all these such a lot of concerns. You're flying incredible here and there. You understand, for human beings who're discovering at us, who would favor to be entrepreneurs, who would favor to, , be brand ambassadors and all those variation of concerns, what variation of recommendation do you furnish to them. What do they do when it seems as if it significantly is changing into an excessive amount of?

RAY J: I suppose you just take a day with out work. You take a day with out work, you chop your phone off, you chant besides the certainty that children, you meditate, and you bought to get lower back to it. I indicate, both you're going to cease or you're going to undergo it. And I'm like $7 million of my very personal cash and on the entire I'm working too challenging, , on the entire I drink elevated water, , so we don't sweat as 1000's after we're out hustling. But after we're now not sweating, we're now not working challenging meaningful.

CONWAY GITTENS: And the place does this drive come from, the place does this entrepreneurial spirit come from?

RAY J: I suppose it significantly is simply survival. And we now have got perchance one of many most fitted funnels in marketing, incredible. If we market one thing, I'm equipped to well-nigh assure you we'll hit our collection, , so we beneath-promise, overdeliver and just work by strategy of it, man, and, and work by strategy of it. It has been a definitely challenging 12 months for us as some distance as our time and the way 1000's time we now have got been placing into this undertaking. So it significantly is nice, though. We're incredible here. We incredible here, child. We made it to the incredible. What's up, mom. Pinnacle of the arena.

CONWAY GITTENS: Inform me incredible incredible here. What for your view, makes an best commercial leader. And what makes you an best commercial leader?

RAY J: I suppose you bought to be patient with all folks. There's going to be significantly a phenomenal collection of emotion. There's going to be significantly a phenomenal collection of I do not would love to do it anymore. I'm done. One of many conflicts also should be I'm now not getting paid meaningful. One thing it be by strategy of the crew of humans, you listen to the crew of humans. You listen to your crew. You make them match good. You have unique. Fun drives the success for us. And if it significantly is now not unique, then we're equipped to't be a point of it. It hope to be unique, even by strategy of the flaws is unique.

CONWAY GITTENS:What are the similarities and the modifications between Raycon and Tronix?

RAY J: The distinction between Raycon and Tronix. It be a streaming platform versus hardware, and Raycon now also should be going into domestic merchandise. And I admire the methodology we, we undertaking and we pre-plan for 3 or 4 years prior than. And then the streaming world is like well-nigh live in motion. So equipped that we produce one of many most fitted content subject matter our followers are going to come back reduction, , we'll deliver three million followers from the resolution streaming platform we helped out VH1, but my valid goal is to be the funnel for the entirety Viacom, once they'd prefer to cross into one more, I haven't any inspiration, sort of producing. In the event that they'd prefer to go murder mysteries, then deliver every of the content subject matter to Tronix. So I hope to be the hub for all concerns in this space.

CONWAY GITTENS: Yeah so we're all being inundated with social media influencers and brand creators. So I want your recommendation to human beings who effort to create manufacturers. How do you fly above or set yourself apart?

RAY J: Nicely, I suppose I'm discovering at every of the influencers and I'm discovering at every of the tastemakers or the branders. They're awaiting marketing dollars to come back in in. They're producing a bunch of content subject matter and organized to get it checked from both YouTube or these such a lot of systems, but they haven't any inspiration what they're getting. They haven't any inspiration if it can well be 100 grand or 20 grand or two grand. So that they can not scale what's coming in only by way of the the certainty they do not reflect onconsideration on it like that. And I suppose in the event that they point of passion on the subscription based platform the place you're definitely charging your local or the human beings who reduction you, only a small magnitude to come back into your world after which you implement the subscriber to be for your world always, no matter if or not the coins are utility coins or you're activating them to come back be with you 4 situations a 12 months, one thing it be, it significantly is in regards to the subscriber. And I suppose within the event you point of passion on that and you point of passion on the subscription base, then you're equipped to now not be doing most content subject matter. You get 10 million views. And perchance I haven't any inspiration what you get lower back from that, but within the event you take that and do a subscription magnitude month-to-month and you be constructive the subs are changing into their cash's charge, it significantly is the thanks to go. And then you implement marketing. But I do not suppose that, , you would have the substitute to would favor to absolutely place self conception in YouTube or these such a lot of systems to pay you for your time. Which you spent this month. I suppose that your time is charge methodology elevated. And I suppose the subscription base with the human beings who reduction you, you're equipped to merely see an full such a lot of collection and an full such a lot of strategy to being a phenomenal recommendation and getting cash in the event that they utilized that.

CONWAY GITTENS: So that you just go to YouTube to construct your base after which switch over to a subscription mannequin?

RAY J: Either methodology, it significantly is simply I do not suppose that there also should be a bunch of artists that I see on the incredible level and you go down to it has Linktree or one thing the place you've bought gotten you've bought gotten your whole, your, your, your content subject matter in one space with out spending a dime. And human beings go live all day with out spending a dime. Humans would favor 1,000,000 views, but then they're organized, the place is my cash? Like, you haven't bought any inspiration what it be. So I suppose just establishing a subscription based building, starting out or coming lower back to it, within the event you've bought gotten you've bought gotten a base, is the most fundamental thanks to regulate and to scale your empire.

CONWAY GITTENS: So that you just suppose I indicate, social media all all began on this inspiration of free. So that you just suppose now it significantly is altering so that it can a elevated of a subscription mannequin.

RAY J: Nicely, I suppose it significantly is all about what you're offering them. It be all about how big the content subject matter is, how lengthy it be, , what's it within the event you're going all out and you're placing out stuff that has great production, great excessive best, it significantly is great funny. It be great viral, it significantly is lengthy meaningful for a subscriber to be more usually than not satisfied and it significantly is mounted then that I would suppose that on your total is the most fundamental methodology. If it significantly is simply FaceTime promo, it significantly is such a lot of. So I suppose within the event you're definitely establishing your empire around great content subject matter, it significantly is inevitable or it significantly is the most fundamental methodology, in my view, to affiliate with subscription.

CONWAY GITTENS: Investigate with me in regards to the get bigger. I indicate, your social media famous person human beings watched rises and falls for human beings who've made error, missteps, pressured error. How do you get bigger?

RAY J: Nicely, you never start out. You start. You go in a similar sort in like I did a express in ordinary acknowledged as verses and it became me, Bobby Valentino, Pleasure p and Sammy. And we were battling. I did the worst job I've ever. It became the worst, incredible. The vocals were at an all time excessive of bad, but I embraced it. And it grew to be relaxing. And likewise you all all began to compare it by strategy of the hardship. So I suppose within the event you're always evident which contain your error and you're definitely like apologetic and that they are able to match that, it significantly is lifestyles, , it significantly is recognizing what it be. And likewise every year or anytime you lose, you be sure and you make transformations. It's attainable you may in point of fact not hang doing the equal. It's attainable you may in point of fact not do the equal unsuitable time and once further. You're just you're going to bury yourself. So if you make a mistake, it significantly is now not a mistake. It be a lesson. Make the transformations quickly and you're equipped to continue to definitely climb. And that's the reason how I've done the entirety. I watch Love and Hip hop by strategy of the seasons, and I used to be once like, dude, this dude is horrible. Or I mentioned some loopy stuff. And so I understand what to do for myself just by way of the the certainty I'm equipped to watch it. So it significantly is why I definitely get pleasure from Love and Hip Hop, just by way of the the certainty it became my very personal self discovering at my ancient self. And I used to be once equipped to make transformations with out all folks giving me recommendation just by way of the the certainty I hope to look it.

CONWAY GITTENS: What's your next endeavor? What's next for Ray J?

I suppose we built these. We built these streaming networks, after which I'm done. I'm well-nigh done. I'm 43. I'm well-nigh out. My bones hurt, . I indicate, it be equipped to be snowing. And we work. I may on the entire be still sweating, what I indicate. Accordingly of the we now have got been working so challenging. My physique's worn-out. I'm definitely, like, seventy three. There just is never any methodology. You understand what I indicate. And if I hang going like this, I haven't any inspiration if bodies can specialise in this, incredible. We not sleep for days making an try out to make selected we execute and meet our closing dates. So I suppose after this, this run is my final run.

CONWAY GITTENS: And so that you just're incredible here on the ground of the New York Inventory Alternate with me. Inform me, what does this represent to you? What does this, and for a man of coloration?

RAY J: Yeah, it , it significantly is I do not prefer to get emotional, but the diversity of stuff will get me emotional just by way of the the certainty this suggests how challenging we now have got been working. And for you guys to deliver us in and be responsive to what we're doing is it significantly is I'm speechless and I'm humbled and I get pleasure from it. It makes us work more durable. Each and every of the manifestation that we now have got been doing, , leads us to an space like this. It be mind blowing. And it makes us work more durable. And it significantly is challenging. It be challenging out incredible here, vastly if you've bought gotten you've bought gotten your small commercial institution and you've bought you've bought gotten a board and you built it from the ground up. And now constructive decisions undergo a board. And so that you just be sure that commercial, be responsive to that it significantly is commercial, and definitely continue to push by strategy of with the equal sort of language, with the equal spunk, with the equal creativity way of thinking about that you just are, who you certainly are. Embracing that and going in with that's how we all bring up. So that you just don't switch it up, live. You reside lit, go in. If you happen to find yourself over all set, you're good if you're over all set , like I do not furnish - , just by way of the the certainty I'm over all set. I'm on time. I'm all set. And likewise you do this. And one day of every of the flaws, just live cool. Live specialist.

CONWAY GITTENS: Great Ray J, certainty famous person, tune producer and entrepreneur. Thanks for coming near TheStreet.

RAY J: Thanks, man. All human beings subscribe to Tronix T-r-o-n-i-x Regional love.