Drake Simply Signed A $400 Million Deal With Common – One Of The Greatest Offers In Music Historical past

Rumors that Drake was on the verge of signing an enormous new report contract have been buzzing across the music trade for a number of years. These rumors grew to become white sizzling once more in early March after it was confirmed that Drake had purchased a $70 million Beverly Hills mansion. Was {that a} celebration of an enormous payday?

Right this moment it was lastly confirmed, as first reported by Selection, that Drake inked a one of many largest offers in music historical past. How large of a deal?

$400 million

That lastly additionally explains the data we had been tipped to that Drake’s internet value had formally crossed the quarter-billion mark.

(Photograph by Frazer Harrison/Getty Photos)

This deal could have been apparent to anybody listening to Drake’s lyrics on a number of latest tracks. For instance, here is a line from Drake’s music “Lemon Pepper Freestyle” which was launched on March 5, proper across the time he was closing on the $70 million mansion buy:

360 up entrance, all of it comes full circle.

Did that imply he was signing a brand new “360 deal” As in a 360-degree deal masking a number of elements of his profession, from touring to merchandise to distribution? Did that imply he signed a $360 million deal? Maybe BOTH and that is what he meant by “full circle”?

A couple of months earlier on the Migos music “Havin Our Manner,” Drake’s verse contained this lyric:

Shit carried out modified, billionaires discuss to me totally different after they see my paystub from Lucian Grainge.”

Who’s Lucian Grainge?

Drake has been signed to Lil Wayne’s Younger Cash label since 2010. Younger Cash is an imprint beneath the umbrella of Money Cash Data. Money Cash sits beneath the umbrella of Republic Data. Republic Data is owned by Common Music Group.

Lucian Grainge is the Chairman and CEO of Common Music Group.

And here is what Lucian Grainge needed to say on Common’s Q1 earnings name yesterday:

The largest artists at the moment are additionally leaning in and increasing their relationship with UMG in each area, and for this, we’re significantly proud. Drake is a chief instance… Our new long-term worldwide partnership with Drake… expanded from recorded music to music publishing, movie, tv and types. And we could not be extra enthusiastic about what lies forward for our relationship.

Drake has offered 37 million albums for Common since 2014. In that very same interval he has generated tens of billions of Spotify streams. He was the very first artist to high 50 billion streams on Spotify. Selection estimates that Drake’s music generates $50 million per yr in income.

So it would not be stunning that Drake can be in line for an enormous payday. At $400 million, it might basically be an 8X a number of of his annual catalog income.

In a potentially-prophetic twist, Drake purchased his $70 million Beverly Hills mansion from British singer Robbie Williams. Robbie himself purchased his first Beverly Hills mansion in 2002 upon signing a $150 million contract with music label EMI. It was the most important contract ever paid to a British musician as much as that time and it was one of many very first “360 offers” within the music enterprise.

So Drake’s new $400 million deal actually is “full circle.”

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