Universal Music Group CEO Sir Lucian Grainge has just confirmed what many have long-suspected after revealing the worldโs largest music company had entered โan expansive, multi-faceted dealโ with Drake during a Q1 earnings call.
According to Variety, as you will have probably gathered from the phrasing alone, this agreement spans multiple creative lanes and revenue streams โ encompassing everything from recordings, publishing, and merchandise, to visual media projects. Now, onto the detail thatโs actually got your interestโฆ
What high-flying price can a Grammy-winning chart-topper like Drizzy command in the current market? A chart-topper, itโs worth adding, who was the most-listened-to artist of 2021. One insider has characterised the entire arrangement as โLeBron-sizedโ without divulging a specific number on it. 6 God himself has seemingly referenced the deal in question in the lyrics of โLemon Pepper Freestyleโ: โThree-sixty upfront / It all comes full circleโ (US$360 million / AU$506 million).
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As pointed out by Jem Aswad & Jordan Rose of Variety, thereโs also been an allusion to โowning mastersโ dropped in โThe Remorseโ โ the final track of his latest studio album โ as well as another bar involving a pay stub from Lucian Grainge in Migosโ โHaving Our Way.โ
โSince 2014, Drake has moved over 37 million album project units. Heโs also the first artist ever to surpass 50 billion combined streams on Spotify,โ writes Aswad & Rose.
โTo estimate that Drakeโs music brings in US$50 million / AU$70 million annually is no stretch, say sources, and that the deal could be in the vicinity of US$400 million / AU$562 million or more isnโt either.โ
Between securing the Universal Music Group bag, his Nike partnership, his ongoing deal with crypto betting platform Stake, and whatever his cut of Virginia Black whiskey amounts toโฆ itโs safe to assume, Drake doesnโt need to record another single ever again.
All thatโs left for the Certified Millionaire Boy is to globe-trot in his $240 million private jet.
