Toronto rapper Drake has signed a new deal with Universal Music Group. Sources reveal that the agreement is one of the biggest deals of the artist’s career.
Variety magazine calls the deal “an expansive, multi-faceted deal with the company that encompasses recordings, publishing, merchandise, and visual media projects.”
Referred to as a “Lebron-sized,” the deal’s specifics are being kept under wraps.
For UMG, Drake is a big money maker – which makes offering such a deal a no-brainer. Many estimate that he brings in over $50 million a year with music earnings alone.
Over the last eight years, Drake has sold over 37 million album units and made history with Spotify by becoming the first artist to breeze past 50 billion streams.
A deal like this will surely rack in more money for the largest music entertainment company in the world.
Many people thought Drake might go independent when his contract came up. Star maker Steve Stoute said in 2020, “Drake is about to get the biggest bag in the history of the music business by far. If Drake goes independent, the music business is over.”
But with this deal, his brand is firmly locked with the company that gave him wings.