Drake would have signed a major contract with Universal

Drake is said to have signed a massive new contract with Universal Music Group.

According to Variety, UMG chairman Sir Lucian Grainge confirmed the market in a first quarter earnings call yesterday (May 3). The outlet described the market with Drake as “a broad, multifaceted deal with the company that includes recording, publishing, merchandise and visual media projects.”

An insider described Drake’s deal with Variety as “Lebron – attempted,” citing LeBron James’ $ 154 million (£ 123 million) deal with the NBA to join the Los Angeles Lakers in 2018, to name a few.

The market is believed to be similar to The Weeknd ‘s recent long – term deal with Universal. UMG’s Republic Records manages all future song works and catalogs, expanding and developing global merchandising, branding, e-commerce and retail licensing opportunities around future projects and rapper releases.

The new agreement is expected to cover future audiovisual projects in association with Republic Records and UMG.

NME is in contact with UMG to confirm the details of the agreement with Drake.

Since 2014, Drake has sold more than 37 million albums. In addition, he was recently confirmed as the first artist to surpass 50 billion combined streams on Spotify.

The Canadian star recently sparked rumors that he will be releasing new music soon after sharing a picture taken in a recording studio.

Last month, Drake also revealed that he was planning some “highly interactive shows” in New York and Toronto. No further details about the upcoming concerts have been confirmed yet.


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