Is Drake Still Under Cash Money Records? The Long Road to Owning His Masters
As Drake celebrates the success of his 2022 album Honestly, Nevermind, it‘s easy to forget how the former child actor from Canada transformed himself into one of the biggest hip hop stars on the planet. Drake‘s musical journey is inseparable from his history with Cash Money Records – the iconic label that was instrumental in launching his career. Let‘s take a closer look at Drake‘s complex relationship with Cash Money and his long road to owning his masters.
The Cash Money Records Empire
To understand Drake‘s path, you first need to know the massive influence Cash Money Records yielded over hip hop culture in the 1990s and 2000s. Founded in 1991 in New Orleans by brothers Bryan "Birdman" Williams and Ronald "Slim" Williams, Cash Money entered the national scene when Juvenile’s 1998 album 400 Degreez sold over 4 million copies. Hits like “Back That Azz Up” pushed Cash Money’s distinct bounce music sound into the mainstream.
The label built an empire by churning out hits from in-house superstars like Juvenile, Lil Wayne, B.G., and The Hot Boys. From 1998-2009, Cash Money sold over 15 million records, generating over $425 million in gross revenue. Their strategy was simple – keep the money in-house. Cash Money retained ownership of 100% of their master recordings and rarely signed outside producers or artists.
| Year | Cash Money Revenue |
|---|---|
| 1998 | $18.5 million |
| 2000 | $62.4 million |
| 2004 | $102.1 million |
| 2008 | $125.2 million |
“We are the label that takes all the shots, takes all the risks, and takes most of the rewards,” Birdman told The New York Times in 1999. This unconventional business model allowed Cash Money to amass power and equity unlike any rap label before it.
Drake Signs to Cash Money Via Aspire Music
As Cash Money dominated the early 2000s with Lil Wayne’s hits like “Lollipop”, an unknown rapper named Aubrey Drake Graham was honing his skills in Toronto. He first met with Ronald “Slim” Williams in 2005 after starring on the teen drama Degrassi: The Next Generation. Slim wanted to fly Drake to Houston to join Cash Money, but nothing materialized at the time.
Drake took the unconventional path of signing to a smaller label called Aspire Music in 2008. Aspire was the brainchild of industry veteran Cortez Bryant and James “Jas” Prince of Rap-a-Lot Records. In June 2009, Aspire leveraged its relationship with Jas Prince to broker a deal with Cash Money/Young Money. This allowed Drake to join Cash Money’s roster for increased promotion and distribution under Young Money Entertainment.
As part of the agreement, Aspire retained rights to 32% of Drake‘s career earnings including publishing, masters, and merchandising income. Cash Money would own some of Drake‘s publishing and masters rights as well in exchange for their services. Drake released all of his first five albums with Cash Money via this multi-party deal.
Drake Ascends to Superstardom
When Drake released his debut album Thank Me Later in 2010, he instantly became one of hip hop‘s most bankable new stars. His single “Best I Ever Had” peaked at #2 on the Billboard Hot 100, paving the way for a wave of hits to come like “Headlines,” “Started From the Bottom,” and “Hold On, We’re Going Home.”
From 2010-2020, Drake released five consecutive #1 albums in the US:
- Thank Me Later (2010) – Platinum Certified
- Take Care (2011) – Quadruple Platinum
- Nothing Was the Same (2013) – Triple Platinum
- Views (2016) – Quadruple Platinum
- Scorpion (2018) – Platinum Certified
During this run, Drake reportedly earned over $75 million. But issues were starting to surface with his labels Cash Money and Aspire.
The Fight to Own Drake‘s Masters
As Drake grew into one of music‘s highest earners, tensions mounted over who owned rights to his masters. Aspire claimed they retained 32% ownership, while Drake and his management believed Cash Money was withholding substantial royalties owed.
From 2013-2020, Drake‘s inner circle engaged in painstaking negotiations with Cash Money to acquire the rights to his masters. The talks were described as “extremely tough, nasty at times, petty, venomous.” But Drake knew owning his masters meant long-term creative and financial freedom.
In 2016, frustrated with stalled talks, Drake threatened to withhold new albums from Cash Money. “I want to be able to operate with full creative freedom,” Drake told The Hollywood Reporter. “I’m not a subsidiary. I’m not this kid anymore.”
Also in 2016, Lil Wayne settled his own lawsuit with Cash Money, reportedly for over $10 million, finally owning his catalog of Young Money recordings.
By 2020, Drake had finally negotiated his release from Cash Money and Aspire – for likely the high cost of over $10 million based on industry rumors. This brought full ownership of his masters going forward to his label October‘s Very Own (OVO) that he founded back in 2012.
Drake‘s Independence and Ownership Today
So what does Drake‘s independence look like today? For starters, he owns 100% of his masters from his last three albums: Nothing Was the Same, Views, and Scorpion. His albums certified for over 30 million units sold in the US alone.
Secondly, OVO Sound is a powerhouse business that earned Drake about $50 million per year from his diverse revenue streams:
- OVO Clothing Line – Brings in approx. $50 million annually
- Spotify streams – Over $200 million estimated annually
- Music sales & Publishing – Millions per year
- Touring – Major source of income from shows and residencies
- Equity investments – 6% owner in 100 Thieves e-sports organization, worth over $125 million
By owning his present and future masters, Drake has immense creative freedom and his music assets will provide generational wealth.
For perspective, artists like Kanye West who don’t own their own masters make a fraction as much from their catalog because the record label takes the lion’s share. Masters ownership is central to an artist‘s power and independence.
The Complicated Legacy of Cash Money Records
Looking back, Cash Money Records served the ultimate purpose in Drake‘s career – providing a launchpad for him to shoot into superstardom. Birdman and Slim deserve immense credit for their ear in discovering raw talent and building a southern hip hop juggernaut.
But Cash Money‘s reported reputation for withholding royalties, as alleged in lawsuits by Drake, Lil Wayne, B.G. and Juvenile, also reveal a label that treated its artists primarily as assets to be controlled.
In the end, like Lil Wayne before him, Drake flexed his immense leverage to reclaim ownership over his life‘s work. For an artist, especially in hip hop culture, owning your masters is a central part of your legacy.
As Drake celebrates the success of Honestly, Nevermind in 2022, he has cemented his status as one of music’s most powerful cultural forces no longer tethered to his past. Some roses only bloom when their roots are set free.