After much speculation, Variety announces that Drake signed a huge new deal with Universal Music Group.
In a Sir Lucian Grainge’s Universal Music Group Q1 earnings call Tuesday, the chairman/CEO of the world’s biggest music company confirmed that Drake has entered an “expansive, multi-faceted deal with the company that encompasses recordings, publishing, merchandise, and visual media projects,” Variety reports.
One insider, according to Variety, describes Drake’s arrangement as “Lebron-sized,” while Drake himself has referenced the deal in his lyrics to “Lemon Pepper Freestyle” from his Scary Hours 2 EP. The lyrics read, “Three-sixty upfront, it all comes full circle” — or possibly $360 million. He also hints at “owning masters” in his song “Remorse,” and in Migos’ “Having Our Way,” Drake is heard rapping, “Billionaires talk to me different when they see my pay stub from Lucian Grainge” (the chairman and CEO of Universal Group Music).
Since 2014, Drake has sold over 37 million album project units. He’s also the first artist to ever surpass 50 billion streams on Spotify, among many more musical accomplishments including multiple Grammy Awards.
The report of Drake’s deal follows a similar announcement made earlier this week, where Universal Music Group stated their long-term partnership with the Weekend. This deal, similar to Drake’s new deal, further builds on the artists’ relationship with Universal Music Group’s Republic Records.
Lucian Grainge said this of UMG’s relationship with The Weekend: “Over the past decade, we have been honored to work so closely with Abel, who has quickly become one of music’s most creative and important artists—a once-in-a-generation talent.
With Sal and the XO team as our incredible partners, we’ve developed a deep trust and respect that has enabled us to successfully execute Abel’s brilliant vision.”
The Weekend has sold more than 75 million albums and holds the record for longest-charting song in Billboard history with his single “Blinding Lights,” hitting an amazing milestone of 90 weeks on the Hot 100 Chart. He’s also headlined for the Super Bowl halftime show in 2021 and co-headlined at Coachella in April. Coming up next for the Weekend is his After-Hours Til Dawn stadium tour this summer.
It’s safe to say that these expansive new deals from Universal Music Group are well deserved for these two iconic artists as they take the next steps in growing their careers.
