Toronto’s Drake would forever change the music business if he went independent says music industry executive Steve Stoute. In a discussion with Russ for a panel at the virtual SelectCon conference, Stoute said he is “about to get the biggest bag in the history” according to a report by Variety.
“I said this before, Drake is about to come out in the next six months, Drake is about to get the biggest bag in the history of the music business by far. Both A and B, they don’t want that to happen. Because the day that happens, they might as well close the business down.
“If Drake goes independent, the music business is over. If Drake goes independent, the music business is done.”
Drake is currently signed to Cash Money via Universal Music Group-owned Republic Records.
“Drake uploads ‘God’s Plan’ on a digital distributor so whatever money it is: less than $10 dollars, right? Fine, pay for the beat — $10K, $20K, $30K, $40k, whatever the f–k it is — and to get mixed: four racks. So you’re all, $50K tops. That song, you owning it forever and getting paid weekly on it, you’re making a million dollars a week off that song. It’s different. If Drake goes independent, this whole industry gets turned upside down. That’s why I’m independent, putting out music independently. I’ma f–k this whole industry up.”
ALSO CHECK OUT CELEBRITY NEWS ARCHIVES STREAMING ON WORLDWIDE NETWORK BELOW!