universal music group

Drake Reportedly Signed A New Deal With Universal Music Group For $400 Million

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The biggest star in hip-hop just made the biggest move of his career. Variety reports that Drake has signed a new deal with Universal Music Group that could be worth up to $400 million. During a first-quarter earnings call, the company’s chairman Sir Lucian Grainge announced the deal, which is described as an “expansive, multi-faceted” endeavor “that encompasses recordings, publishing, merchandise, and visual media projects.” Drake had completed the deal in 2021 but it looks like he won’t be taking Russ’ advice anytime soon after re-upping for a “Lebron-sized” payday, which Variety’s sources say could reach that above-mentioned figure.

Drake’s signing follows the announcement of a similar deal by his Toronto compatriot The Weeknd (who may soon be going by just Abel). Earlier this year, it was reported that The Weeknd had also signed a similar expansion of his prior deal with Republic (a subsidiary of Universal) which would likewise cover “recorded music, publishing, merchandise, and video.” These deals have become quite popular, according to Variety, 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 and more artists to strike out on their own outside the label system (i.e. Russ).

Even among those who haven’t commanded the sort of mind-boggling streaming success Drake has, bigger deals are keeping rappers like Lil Durk and Trippie Redd closer to home. Not for nothing, Trippie Redd’s label, TenThousand Projects, is also a subsidiary of Universal, while Durk’s imprint, Alamo, is under Sony. If the major labels are throwing around this kind of money (while buying up pieces of the various DSPs), it looks like their continued dominance over the music industry will remain assured for some time to come.

The Weeknd Expanded His Partnership With UMG To Include Publishing, Merchandise And Audiovisual Releases

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Fresh off a massive headlining performance at Coachella, in which he was basically the only artist who could replace Kanye West after a last-minute cancelation, The Weeknd no longer has to prove his star power. The self-proclaimed Starboy (sorry, had to) is locked into a massive deal with Universal Music Group, who have doubled down on their partnership with the artist. Given his excellent new album, Dawn FM, and 2020’s massive release, After Hours, it’s not surprising that UMG now wants to partner with Abel Tesfaye on all “recorded music, publishing, merchandise and video.”

According to Variety, UMG will remain The Weeknd’s home for all things label-related, and take over his future music publishing rights once a deal with Kobalt expires. Universal’s merchandising arm, Bravado, will work with XO on “global merchandising, branding, ecommerce and retail licensing opportunities around future projects and releases.” Also, Republic and UMG will handle all future audiovisual projects. So basically, everything he might get into over the future course of his career.

UMG chairman and CEO Lucian Grainge said the following about the partnership: “Over the past decade, we have been honored to work so closely with Abel, who has quickly become one of music’s most creative and important artists—a once-in-a-generation talent. With Sal and the XO team as our incredible partners, we’ve developed a deep trust and respect that has enabled us to successfully execute Abel’s brilliant vision.”

Anderson .Paak Is Launching A New Label Called Apesh*t

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In a hilarious faux press conference posted earlier today on Instagram, Anderson .Paak announced that he’s launching a brand new label. Dubbed Apesh*t, he explained that the name is partly an acronym for “Anderson .Paak Empire” and a reference to the fact that “we on some other sh*t.”

A press release indicated that Apeshit is indeed a partnership with Universal Music Group and that Paak’s focus is on “no gimmicks, no button-pushing, just raw talent.” An unusual success story himself, this effort definitely feels like he’s trying to find other multi-talented artists that have gone undiscovered the way he was until he broke through on Dr. Dre’s Compton album in 2015, and then with his own album Malibu in early 2016. “I’m looking for artists that can captivate an audience,” he elaborated in the Instagram video. “I want musicians. I want people that can play instruments and perform at the same time.”

Apesh*t has a website up already proclaiming itself as “A disruptive platform for the most captivating talent in the world,” as well as a new Instagram account with upwards of 6,000 followers on its first day of existence. “Do you plan on signing artists from Korea?” one of the actors in the Instagram clip asked in Korean. Paak replied in Korean with “Yes lawd!”

It feels like strategic timing to introduce Apeshit to the world as An Evening With Silk Sonic, Paak’s album with Bruno Mars as Silk Sonic, is set to arrive on November 11th. As the video comes to a close, he looks at the camera and delivers a parting thought on the venture: “The game is crazy man. This industry can be like a jungle. Snakes, tigers, rainy days, hot days…What I’m trying to say is look: If the industry is like the jungle? Well, I guess we got no choice but to go APESH*T!”