Bag Secured: Drake Signs Massive Deal With Universal Music Group Reportedly Worth $400M
Drake reportedly resigns with UMG for a rumored $400M payday establishing a business relationship that will last well into the future.
Drake resigns with Universal Music Group under Republic Records for a rumored $400M payday.
Drake is without a doubt one of the biggest artists of the past 10 years if not the biggest. We’ve watched front row his start from Degrassi to holding down the Young Money brand while Lil Wayne was behind bars. Now he’s arguably bigger than everyone who was hot when he entered and everyone he looked up to. For over a year now rumors have swirled Drake was a free agent and could become an independent artist.
Many of us knew if Universal Music Group’s CEO Sir Lucian Grainge had any say, he would do whatever it takes to keep Drake in the family, especially with UMG planning to go public soon.
Variety reports that during UMG’s Q! earnings cal,l Drake’s new deal was announced by Sir Lucian. The deal was long rumored but nothing official was announced until then. The deal reportedly covers future releases, publishing, merchandise, and visual media projects. Experts have claimed the deal could be worth $400M but wouldn’t be surprising if it was worth more.
During Drake’s career, he’s received shots from other rappers for being signed to Cash Money and being signed to multiple people like J Prince.
With this massive payday along with his continued success Drake ultimately got the last laugh.
Must be nice; congrats Drake!
Drake signs a new deal with Universal pic.twitter.com/V4USA3ylb9
— Drake Direct (@DrakeDirect_) May 4, 2022