Drake has kept fans guessing about his future endeavors since he dropped Certified Lover Boy, which was his first album to drop outside of Young Money/Cash Money Records. Now it seems like the OVO Sound founder has reached a new "massive" record deal.
According to a report Variety published on Tuesday, May 3, Universal Music Group's Sir Lucian Grainge said that Drake has re-signed with the company after the Canadian rapper agreed to a major record deal that covers recordings, publishing, merchandise and visual media projects. Although the exact number hasn't been confirmed, industry insiders have estimated it to be worth $400 million or more.
Drake hasn't necessarily been shopping around for record labels, however, the deal sounds sweet enough for him to agree to. According to the report, the "Laugh Now Cry Later" rapper had a lot of bargaining power after he completed his recent deal with Republic Records last year and was freed from his long-standing agreement with Young Money/Cash Money Records in 2019 following the release of his Scorpion album.
Drake has sold over 37 million units since 2014 and that's without factoring in the initial sales from his debut album Thank Me Later (2010) and his sophomore LP Take Care (2011). The rapper nor the label has confirmed the reporting, however, Drake himself has manifested a rather large deal like it in his previous raps. On his "Lemon Pepper Freestyle" with Rick Ross, Drake raps "“Three-sixty upfront, it all comes full circle” which alludes to $360 million. He also mentioned a major payout from UMG in Migos' "Having Our Way."
"Billionaires talk to me different when they see my pay stub from Lucian Grainge,” Drake spits.