Nearly $400 million is the price tag of doing business with Drake in 2022. According to Variety, Sir Lucian Grainge revealed an expansive, multi-faceted deal with the Certified Lover Boy that covers recordings, publishing, merchandise, and visual media projects.
Variety hit a few industry insiders to see how much that deal could be. While one referenced “LeBron-sized,” possibly alluding to one of his league-leading contracts or his massive business deals with Nike or more, Drake’s lyrics stand out. “Three-sixty upfront, it all comes full circle,” he spits on “Lemon Pepper Freestyle.”
Additional sources cite the deal could be north of $400mil. A full number was not disclosed.
Late last month, UMG announced a new deal with The Weeknd. The deal cements The Weeknd’s partnership with UMG’s Republic Records, his label home and partner since 2012, and will continue to be his label partner for future music releases. The Weeknd & XO will continue to work closely with Bravado, UMG’s top brand management and merchandise organization, to build and develop global merchandising, branding, eCommerce, and retail licensing options for future projects and releases. In addition, the new deal covers future audiovisual initiatives with Republic Records and UMG. A number for The Weeknd’s deal was not disclosed.