This is the latest news surrounding Wayne’s deal with Universal Music Group.
Last week, we learned Lil Wayne sold his masters to Universal Music Group for $100 million. A new report unveils that Drake, Nicki Minaj and Tyga’s catalogs under Young Money were sold along with Lil Wayne’s catalog. Per Music Business Worldwide, a pending lawsuit filed by Wayne’s manager revealed Young Money’s entire catalog was sold.
The suit reads, “Plaintiffs are informed and believe… that, subsequent to [Sweeney’s] termination [as Wayne’s manager], specifically in or about June of 2020, Lil Wayne was able to sell the Young Money Masters to Universal Music Group for an excess of $100 million.”
The deal reportedly includes Drake and Nicki’s entire discographies. Each of Drake’s albums released ahead of Scorpion were released under Young Money, (to be clear that’s Thank Me Later to Scorpion). The rest of his projects have dropped under his own imprint, OVO. This year, Drake unveiled Dark Lane Demo Tapes via OVO which has a partnership with Republic Records (owned by UMG).
Nicki’s albums including Queen arrived on behalf of Young Money. Tyga’s latest project The Gold Album: 18th Dynasty was an independent release. This news arrives at a time when artists are either selling or buying back their masters.
Three months ago, Kanye West released his record contract on social media. This was a part of his attempt to get his publishing back. This year he also called out Universal and Sony Music Group about ownership of his publishing. He even declared that he’d give G.O.O.D. Music signees 50% of their masters.
With that being said, 2020 has been an interesting year for the music industry. It’s very telling that in the age of streaming, successful artists are selling their masters for nine-figure payouts. Lil Wayne will be the first of many, we predict this trend will continue.