TORONTO (Barrio) – You can say, Drake has secured a major bag with by re-signing with Universal Music Group, for a deal that could fetch him around $400 million.
The deal was described as an “expansive, multi-faceted deal” that will cover Drizzy’s “recordings, publishing, merchandise and visual media projects.”
An insider described the deal as “LeBron-sized” when asked by Variety. Drizzy has dropped hints in his music when it comes to his new contract, which was reportedly inked in 2021 after completing his obligations to UMG from his previous deal after Scorpion‘s release in 2018.
“360 upfront, it all comes full circle,” he raps on 2021’s “Lemon Pepper Freestyle” in a possible reference to collecting $360 million or a 360-deal.
The Weekend signed a similar deal with Universal Music Group to keep two of the biggest artists in the world under their umbrella.
“Drake benefits from a deep catalog that performs well. Also, he became a free agent at a young age,” one industry vet said while another added, “Drake has the bargaining power to negotiate a net profit split with the best deal terms and a humongous advance upfront.”
Drake’s current business relationship with Young Money is unknown, although 2021’s Certified Lover Boy was released by OVO under exclusive license to Republic Records, which lives under the UMG umbrella.
We gotta get ‘The Boy’ in a Barrio Cap. Who has a link?