On May 4, 2022, Sir Lucian Grainge, the Chief Executive Officer of Universal Music Group confirmed that an expansive, multi-faceted deal has been struck with the world-renowned artiste, Drake.
The deal includes recordings, publishing, merchandise, and visual media projects. In some sections of the media, this would be seen as a 360 deal.
According to Grainge’s remarks during yesterday’s Universal Music Group’s Q1 earnings call, the “expanded portfolios” span multiple creative lanes and revenue streams. Variety says that the deal is worth $400 million or more. However, the duration of the deal has not been revealed by any of the parties.
Drake has in the last 10 years shone brightly as the No. 1 streaming artist, a position that he attained in 2016 and maintained all through the years.
This latest deal puts any notion to rest, that Drake could become an independent artist.
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Universal Music Group is home to Drake and Taylor Swift, two of the biggest artists in the world. Severally, Universal has been referenced in verses by Drake.
Meanwhile, on ‘BB King Freestyle,’ Drake had bragged that he single-handedly keeps the lights on at Universal.
