AceShowbiz - Drake is reportedly on the verge of securing the most lucrative record deal in music history, according to insights shared by media personality DJ Akademiks. This new agreement is expected to surpass all previous contracts in terms of the advance payment involved.

On October 29, DJ Akademiks appeared on the show One Night With Steiny, where he discussed Drake's existing deal with Universal Music Group (UMG) and what lies ahead for the OVO superstar. Akademiks revealed that Drake recently completed a highly profitable deal with UMG valued at approximately $400 million.

Akademiks explained that Drake is about to exit this contract after fulfilling its terms by releasing three projects simultaneously in May: ICEMAN, HABIBTI, and MAID OF HONOUR. This trio of albums was a strategic move to complete the previous deal, as only one more album was needed to fulfill his obligations under that contract.

Looking ahead, Akademiks highlighted that Drake is poised to negotiate a new record deal that could set a historic benchmark for advances paid to an artist. He compared this upcoming contract to recent high-profile deals involving artists like Taylor Swift, Bad Bunny, and The Weeknd but suggested Drake’s next deal could be even more substantial.

The previous $400 million arrangement with UMG was already considered one of the biggest in the industry, so the expectation that Drake's new contract will exceed that amount marks a significant leap in record deal values. Industry watchers will be keenly observing the details once the new agreement is officially announced.

For those interested in the full details of DJ Akademiks’ discussion on Drake’s record deals, the conversation can be found around the 33:20 mark of the One Night With Steiny episode. This development underscores the continued prominence and commercial power of Drake in the global music market.

This article is based on reporting originally published by Xxlmag.