(CelebrityAccess) – Drake has signed a reported $400 million record deal with Universal Music Group (UMG), as reported by Variety. Included in the deal are recordings, publishing, visual media projects, and merchandise.
Drake has struck a multi-faceted deal with Universal Music Group that encompasses recordings, publishing, merchandise and visual media projects. The agreement could be in the vicinity of $400 million or more. https://t.co/8y8GZ4NIVl
— Variety (@Variety) May 3, 2022
Sir Lucian Grainge, Chairman of the biggest music company in the world, confirmed on UMG’s earnings call what the industry had already known but never confirmed – that Drake has entered into an expansive, multi-faceted deal with the company. The deal, reportedly signed back in 2021, puts Drake with Republic Records – alongside fellow artist The Weeknd.
Drake aka Drizzy, is one of the most popular artists in the world, generating more US music streams than all pre-1980 music combined. He’s the first artist to surpass 50 billion combined streams according to Spotify. His music earnings aside (reported to be close to $50 million annually), Drake also has his OVO label imprint, OVO streetwear line, Nike deal, and just launched luxury candle company – Better World Fragrance.
In March of this year, Boardroom posted via Twitter that Drake was the fourth highest-paid hip-hop act of 2021. Drake’s response was a crying laughing emoji. My guess is that $50 million didn’t even touch it.
Why Drake laugh at Forbes reporting he made $50 mil last year ? pic.twitter.com/SHHCAaPTNl
— DJ Akademiks (@Akademiks) March 2, 2022