Both Drake and The Weeknd have been with Universal Music Group for quite some time now. UMG’s chairman and CEO, Sir Lucian Grainge, recently announced that both artists are entering a more expansive, long-term partnership deal that will impact their recordings, publishing, merchandise, and visual recordings.
According to Variety’s “industry insiders,” rumor has it that Drake’s new deal is worth nearly $400 Million. Another industry insider called it a “LeBron-Sized” deal. We’re excited to see what comes of these new long-term deals for both artists and are curious see how it will effect the rest of the music industry.