Drake continues to break all records, and this time it's not for the most Top 10 singles on the charts, or digital singles sales, but for one of the most lucrative, if not the most lucrative, in the history of music.
According to
Variety
, the rapper signed with Universal Music Group for an amount the publication estimates at $360 million (but other sources, such as
Complex
, put the figure at $400 million).
The contract was signed last year but it was only during a conference on the group's earnings that Lucien Grainge, the president of UMG, confirmed that he had concluded with the Canadian star a “multifaceted agreement (…) which encompasses recordings, publishing, merchandising and visual media projects”.
No details
The Drake camp deliberately remained discreet about this monster agreement.
In any case, it would seem that the artist has fulfilled all his obligations towards his former label, Young Money/Cash Money.
"Drake has the power to negotiate a net profit split with the best terms and a huge upfront,"
a music industry lawyer told
Variety .
The rapper is so popular that, as the publication relays, he generated more streams in 2021 on his own than all pre-'80s artists combined.
Drake is not only a popular rapper, he has branched out into other sectors like ready-to-wear, signing with Nike, and he recently created Better World Fragrance, a brand… of luxury scented candles !
People
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