Drake Signs Multi-Faceted Deal with UMG for Undisclosed Price

Video Credit: Wibbitz Top Stories
Published on May 4, 2022 - Duration: 01:30s

Drake Signs Multi-Faceted Deal with UMG for Undisclosed Price

Drake Signs Multi-Faceted , Deal with UMG for , Undisclosed Price.

'Variety' reports that the chairman of Universal Music Group (UMG) has confirmed that the company recently signed an expansive deal with Drake.

'Variety' reports that the chairman of Universal Music Group (UMG) has confirmed that the company recently signed an expansive deal with Drake.

The multi-faceted deal reportedly includes , recordings, visual media projects, publishing and merchandise.

The multi-faceted deal reportedly includes , recordings, visual media projects, publishing and merchandise.

Universal's chairman, Sir Lucian Grainge, noted that the "expanded portfolio" spans a number of creative lanes and revenue streams. .

'Variety' reports that Drake has sold over 37 million album project units since 2014.

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'Variety' reports that Drake has sold over 37 million album project units since 2014.

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He's also the first artist , on Spotify to exceed , 50 billion combined streams. .

According to 'Variety,' sources say it isn't a stretch to estimate that Drake's music brings in $50 million annually.

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According to 'Variety,' sources say it isn't a stretch to estimate that Drake's music brings in $50 million annually.

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Those same sources reportedly say that Drake's deal with Universal could be worth $400 million or more.

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UMG already owns about 3 million sound recordings by artists such as Bob Dylan and Taylor Swift.

UMG already owns about 3 million sound recordings by artists such as Bob Dylan and Taylor Swift.

UMG is also home to four of the five most-streamed artists on Spotify in the past decade.

UMG is also home to four of the five most-streamed artists on Spotify in the past decade.

In the first quarter of 2022, UMG's revenue rose 21.6% to reach $2.31 billion.

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In the first quarter of 2022, UMG's revenue rose 21.6% to reach $2.31 billion.

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Revenue from music publishing was up 32.5%, recorded music revenue rose 11.3% and other revenue, including merchandise, skyrocketed 69.8% year-over-year.

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Revenue from music publishing was up 32.5%, recorded music revenue rose 11.3% and other revenue, including merchandise, skyrocketed 69.8% year-over-year.


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Drake (musician)

Canadian rapper, singer and actor from Ontario (born 1986)
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Lucian Grainge

British music executive

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