Drake Signs New Label Deal Estimated to Be Worth Around $400 Mill
[ad_1] Drake has reportedly signed a huge new deal with Universal Music Group that could be worth around $400 million.On Tuesday (May 3), Variety reported that UMG head Sir Lucian Grainge confirmed Drake has inked a massive "expansive, multi-faceted deal" deal with the label that "encompasses recordings, publishing, merchandise and visual media projects." According to industry sources, the deal could be worth $400 million or more, considering Drake's track record at moving major units and bringing in unprecedented streaming numbers.“Drake benefits from a deep catalog that performs well,” says one industry veteran. “Also he became a free agent at a young age.”If Drake had gone the indie route, it would have spelled doom for the recording industry,...
