Cash Money Records – the label name behind so many of the biggest stars in the pop world today just can’t catch a break. It’s being reported that Aspire Music Group is now suing Cash Money for unpaid recording income from Hip-Hop/R&B/Pop superstar Drake.
But isn’t Drake on YMCMB? Well, Young Money Entertainment, which signed a deal with Aspire related to Drake’s management and recording, is actually an imprint of Cash Money Records. Under the agreement, Cash Money and Young Money would get to release Drake’s music but Aspire would receive 1/3 of all profits generated by Drake’s first six albums.
That’s a whole lot of money, considering Drake has been smashing charts and records all over the place throughout his career.
Aspire claims that, beyond a “few modest advances”, it has seen little of the money it is due and received only sporadic accounting from Cash Money. It also alleges that, when it did account, the label applied deductions to the monies it received from Universal – which handles all the distribution of Drake’s music – for costs that had actually already been deducted by the major before it reported to Cash Money. The aim of those additional deductions, it is alleged, was to reduce what was owed to Aspire to more or less zero.
Cash Money Records has been in the courtroom quite a bit as of late, with Jas Prince (son of J Prince and the young mogul who first discovered Drake) also suing the label for a cut of Drake’s recording income. Beyond that, Lil Wayne is also in litigation against Cash Money Records and Universal for incorrectly setting off his share of Young Money profits against advances paid to the brothers who run Young Money.
This is likely not the last you’ve heard of this entire ordeal.