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Drake Signs a Deal with Universal Music Group Worth a Reported $400 Million

Drake Signs a Deal with Universal Music Group Worth a Reported $400 Million

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(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.

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.

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