cord label, Young Money Entertainment – The catalogue included recordings of albums from superstar artists Nicki Minaj and Drake – The rapper reportedly earned almost R1.5 billion from the sale after agreeing to a price of $100 million from Universal Music Group
In a major move for the music industry, Lil Wayne has reportedly sold his master recordings to Universal Music Group in a $100 million deal, which amounts to almost R1.5 billion.
Lil Wayne reportedly sold the entirety of the catalogue from his record label, Young Money Entertainment, which includes records from the likes of music heavyweights Nicki Minaj and Drake.
There was chatter within the music industry about why Lil Wayne settled for $100 million when Bob Dylan’s recent deal of a similar nature went through for triple that at $300 million. There was also speculation about which of Drake’s albums were included in the deal.
As for Nicki Minaj and her most recent album, Queen was also released under Young Money and it’s been reported that almost all of the rapper’s major releases have been under Lil Wayne’s record label. After the deal went through, it would appear as though Universal Music Group is now the official owner of all of Drake’s recordings prior to 2018 and most of Nicki Minaj’s past releases, even maybe some of her future ones.