
Here’s a nice little article from Lissa Monet’s blog giving some more insight into why Drake chose to sign with Young Money and why artists shouldn’t be looking to get signed as quickly as possible to the first label they can find in this digital age:
“When I first heard Aubrey was messing with Lil Wayne, I didn’t get it. I got it, but I didn’t. I saw short term, I didn’t see long term. I never thought it was the perfect fit. To me, the dynamic was completely different as far as ideologies and context of music. Even when they complimented each other on tracks from So Far Gone. I just didn’t get it.
I constantly worried about this as I read stories online about the business riffs between cash money and their former artists. But then again, what independent [or boutique] label run by a chart-topping, platinum selling rapper hasn’t had those problems? I’ve always said, successful rappers who start their own labels have to be finished with their own careers first before focusing on someone else’s.
But to hear about Drake’s deal with Young Money and how it was handled and negotiated, totally made me geek down. I remember having conversations with Drake, he would tell me stories about labels and producers approaching him and wanting him to sign on the spot. It was always some major label or a superproducer trying to get at him or fly him out to some city and i was like, ’sooooo whats the problem? why haven’t u signed ?’ I always thought his indecisiveness was lack of artist management or development, but little did I know this dude was just waiting for the right group of people to come along and show genuine interest in his career. And it doesn’t hurt that they could, with his talent, change the infrastructure of the current state of the music industry at the same time.
Here’s the breakdown of Drake’s record deal:
* Drake is signed with Aspire/Young Money/Cash Money Records and is distributed by [not signed to] Universal Music
* Drake got a $2 million advance – i think the last lucrative advance given to a rapper was Shyne’s $1million – i could be wrong.
* Drake retains the publishing rights to his songs and only pays 25% of his music sales revenues to the label as a “distribution fee” Read the rest of this entry »