Drake reportedly signed a $400 million new contract with Universal Music Group

Drake reportedly signed a $400 million new contract with Universal Music Group ...

The hip-hop star made the most of his career. Variety reports that Drake has signed a new deal with Universal Music Group, which will total $400 million. During a first-quarter earnings call, Sir Lucian Grainge announced the deal, which was described as a vast and multi-faceted endeavor that includes recordings, publishing, merchandise, and visual media projects. Drake had completed the transaction in 2021, but it appears that he will not be taking Russ advice anytime soon after re-upping for a

According to Variety, The Weeknd had announced a similar acquisition of his previous arrangement with Republic (a subsidiary of Universal) that would also include recorded music, publishing, merchandise, and video. These agreements have become quite popular as a way for major labels to keep the industry''s biggest stars under their umbrellas as technological advances and cultural shifts have begun enticing more artists to strike out on their own outside the label system (i.e. Russ).

Even among those who haven''t had the kind of happiness Drake has, larger deals are bringing rappers like Lil Durk and Trippie Redd closer to home. Not for nothing, the rappers'' imprint, Alamo, is also under Sony. If the major corporations are spending excessive amounts on merchandise, it appears that their continued dominance over the music industry will last for some time.

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