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When James Todd Smith (otherwise known by his more famous moniker, LL Cool J) and his Rock the Bells business partner, Geoff Yang, rang the opening bell at Nasdaq in August, they weren’t just there to celebrate the kickoff of their annual Rock the Bells Festival in Queens.
They were also there to honor the 50th anniversary of hip-hop and advocate for brand investment in the culture beyond the surface level—in a way that was beneficial to its creators rather than exploitative.
“Fifty years ago—right nearby in the Bronx—hip-hop was born … and it has since grown into a cultural force that shapes music, fashion, art, technology, politics and more,” LL told a crowd of invited guests consisting of some of the culture’s pioneers, luminaries and longtime supporters.
“It’s not just music; it’s a way of life for millions worldwide,” he continued. “As a uniquely Black American art form, hip-hop holds tremendous purchasing power … $16 trillion.” By 2030, he said, music revenue is projected to reach $131 billion, with significant gains in live music, publishing and the creator economy.
In short: The art form that was born on Aug. 11, 1973, at a back-to-school party held by DJ Kool Herc and his sister, Cindy, at 1520 Sedgwick Ave. in the Bronx to earn some cash for new clothes, has since become a cash cow for an incalculable number of companies that once shunned its existence. Not to mention, it’s a global phenomenon connecting people across generational, ethnic, geographical and economic backgrounds.
