Drake just signed perhaps one of the biggest record deals in music history with Universal Music Group.
The Canadian rapper has entered into a massive multi-million dollar deal with Universal Music group, which some insiders estimate to be around $360-400 million in what UMG’s Chairman Sir Lucian Grainge calls “an expansive, multi-faceted deal with the company that encompasses recordings, publishing, merchandise and visual media projects.”
The disclosure came from Sir Lucian Grainge while speaking at Universal Music’s Group Q1 earnings call.
Grainge disclosed that such “expanded portfolios,” span multiple creative lanes and revenue streams.
Drake had a deal with UMG that ended in 2021.
Meanwhile, there have been speculations about the amount Drake is walking away with, as Variety reported an industry insider saying it was “Lebron-sized.”
Others have tried to put the pieces together as they scrutinize the rapper’s lyrics where he referenced the deal. One of those lyrics is from “Lemon Pepper Freestyle” from his “Scary Hours 2” EP, where he said, “Three-sixty upfront, it all comes full circle,” possibly hinting that he received $360 million upfront from the deal.
In “The Remorse,” off of his last album, he also seems to reference that he has his masters as part of the deal, while in Migos’ “Having Our Way,” Drake raps about why billionaires see him in a different light.
The rapper is now one of the highest-paid in the industry and just one of two- joining The Weeknd in having such a deal with UMG to keep both artists under its umbrella.
