- Lil Wayne has reportedly sold the entire catalogue of master recordings from his record 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.
In other music industry-related news, YEN.cmo.gh recently reported on Mlindo The Vocalist saying that he was struggling and that the toxic atmosphere of the music industry was to blame.
Mlindo The Vocalist is going through the most. The singer recently took to social media to share that he wasn’t doing too well. His first tweet was about how much greed there was in the music industry. He did not go into detail about what he meant even after fans pressed him for answers. The musician went on to say that something was troubling him and he wanted to talk about it.
Again, he did not explain himself when pressed further. Fans were left worried about him after his strange tweets. Some started throwing assumptions that Maphorisa was involved as Mlindo is signed to his stable.
Twitter user Alenceo_sa said:
“This is written @DjMaphorisa all over it. Plus the guy really looks like those "tough dogs with muscles" what do y'all call them konje? NB: I'm from kwa-Nongoma lightning is part of my job description.”
“Khuluma baba name and shame we ready to deal with them.”
“We are here to support you bro even abo Makhadzi and Emtee they told us their stories and maybe we helped them”
“Woza nazo Mlindo...ukwenzeni uMaphorisa” (Spill the tea Mlindo, what did Maphorisa do)
“If it has to do with your job. Just swallow it & soldier on. Don't look to fight the guys in suits. It's a war you'll never win trust me. Just focus on you & your career you're an amazing artist & talented. Work on your career look to build your own empire from where you are now.”