![]() That deal is believed to have been priced between $300m and $400m… and closer to the latter number). (This wouldn’t be the only nine-figure deal Universal has pulled off this year, of course: earlier this month UMG announced its acquisition of the publishing catalog of Bob Dylan. But, with UMG having acquired Young Money, the major record company now owns the star’s pre-2018 catalog.Ī Universal Music Group spokesperson declined to comment on Sweeney’s claims when contacted by MBW. It therefore seems Drake has inked a new deal with Universal Music Group and Republic (via OVO) for his latest recordings. However, all of Drake’s big albums up to and including Scorpion (2018) show a recording copyright credit of Young Money/Cash Money on platforms like Spotify. ![]() ![]() Whether or not that price-tag is accurate, this piece of information chimes with something MBW observed earlier this year: Drake’s new records in 2020, including hit Toosie Slide and the Dark Lane Demo Tapes mixtape, have been released on OVO – Drake’s own label – under exclusive license to Republic Records. The suit reads: “Plaintiffs are informed and believe… that, subsequent to termination, specifically in or about June of 2020, Lil Wayne was able to sell the Young Money Masters to Universal Music Group for in excess of $100 Million.” “specifically in or about June of 2020, Lil Wayne was able to sell the Young Money Masters to Universal Music Group for in excess of $100 Million.” Since Young Money launched as an imprint/JV of/with Cash Money, the label has put out huge records by artists such as Drake (including Scorpion, Views, Nothing Was The Same and If You’re Reading This It’s Too Late), plus Nicki Minaj (including Pink Friday, Pink Friday: Roman Reloaded, The Pinkprint) and Wayne himself (including Tha Carter IV, Rebirth, I Am Not A Human Being).Īccording to Sweeney’s lawsuit, which you can read in full through here, in June 2020, the artist sold Young Money’s entire catalog of masters to Universal Music Group in a nine-figure deal. An important bit of history: Young Money Entertainment was formed by Lil Wayne in 2005, following a renegotiation with the artist’s label, Cash Money Records (which itself is a subsidiary of Universal Music Group). ![]()
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