“Soon as this album drop I’m out the deal,” Drake raps on “Is There More.”
That line f his platinum album Scorpion has fueled reports that the rapper is at the end his deal with Young Money/Cash Money, which is distributed through Universal Music Group’s Republic Records.
Now Variety is reporting that Drake already has another project ready to drop as soon as he announces a new deal. However, a source says that he won’t be leaving the Universal label family any time soon.
Drake’s negotiating power is stronger than ever. He earned the largest debut 2018 with Scorpion, his eighth No. 1 album, and became the first artist to reach 1 billion global streams in a week. Additionally, he currently has 7 out 10 songs in the top 10 on the Billboard Hot 100.
“Drake has the bargaining power to negotiate a net prit split with the best deal terms and a humongous advance up front,” says Dina LaPolt LaPolt Law firm, who represents Britney Spears and Aerosmith’s Steven Tyler.
According to executives, Drake could easily command a per-album advance $15 million to $20 million if he signs to a major. Or he could go directly with a streaming service like Apple Music or Spotify, and earn as much as 70 percent revenue. Another scenario is a touring package, which JAY-Z signed with Live Nation in 2008 for a reported $150 million for 10 years.