Drake Signs Mega Deal With UMG, But How Big Is The Bag?
After years testing free agency, Drake successfully positioned himself to cash in on a reported mega deal with Universal Music Group.
As reported by Variety and its “source,” Drake’s deal with Universal Music Group is described as a “Lebron-sized” deal. Although the worth of the deal has not been disclosed, one thing is for sure, the deal consist of multiple revenue stream opportunities. Those opportunities are: recordings, publishing, merchandise and visual media projects, which will be handled by UMG’s Republic Records.
Back in July of 2020, entrepreneur Steve Stoute predicted Drake’s “mega” deal. “Drake is about to get the biggest bag in the history of the music business by far,” said Stoute, chief executive of United Masters. “If Drake goes independent, the music business is over.”
After releasing his fifth studio album “Scorpion,” Drake then becoming a free agent and prior to signing this “mega” deal, Drake released and contributed to hit singles on his own. Songs that consisted of:
- Laugh Now Cry Later” feat. Lil Durk
- Future’s “Life Is Good”
- DJ Khaled’s “Popstar”
- “What’s Next”
- “Wants and Needs” feat. Lil Baby
- “Way 2 Sexy”
- Yung Bleu’s “You’re Mines Still”
- Future’s “Wait For U” co-featuring Tems
Drake’s impressive stats position the OVO artist to ink such a deal with Universal Music Group.
- Sold 37 million album project units since 2014
- First artist to surpass 50 billion combined streams on Spotify
- Music catalog generates over $50 million annually