A new Drake record deal is close and will likely be the largest in music history, according to DJ Akademiks. Speaking on the October 29, 2026 episode of One Night With Steiny, the media personality said Drake “is at the precipice of being in a new deal” after completing his reported $400 million contract with Universal Music Group (UMG).
The claim is unconfirmed. Akademiks did not name a label or a dollar figure for the new agreement, and neither Drake, his OVO camp nor UMG had commented publicly as of October 30, 2026.
Key facts
- Who: Drake, according to DJ Akademiks
- Claim: Drake is “set to receive probably the biggest record deal in history”
- Where and when: One Night With Steiny, episode released October 29, 2026
- Previous deal: Universal Music Group, first reported on May 3, 2022 and estimated at $400 million or more
- Status: Unconfirmed. No label, no figure and no statement from Drake or UMG
- Legal backdrop: Drake’s appeal against UMG over “Not Like Us” goes to oral argument on December 4, 2026
DJ Akademiks reveals Drake is about to land the biggest record deal ever 😳"This is definitely official" https://t.co/CpK7yOnhqC
— One Night with Steiny (@onenightsteiny) October 29, 2026
What did DJ Akademiks say about the Drake record deal?
Akademiks presented the news as settled. “This is definitely official,” he said, according to transcripts published by XXL, Complex and DancehallMag. “Drake is at the precipice of being in a new deal. He just completed a very lucrative, reportedly $400 million [deal], with Universal Music Group.”
He then made the headline claim: Drake is “set to receive probably the biggest record deal in history.” Outlets transcribed that line slightly differently. XXL’s version reads “the biggest record deal his history,” which would mean the biggest of Drake’s own career. As the numbers below show, both readings point to the same benchmark.
Akademiks said the size of the deal would show up in the advance, the upfront money a label pays an artist. He compared it with deals tied to Taylor Swift, Bad Bunny and The Weeknd and suggested Drake’s would be larger. He did not give figures for any of them.
Did ICEMAN complete Drake’s UMG contract?
Akademiks says it did. He claimed Drake needed only one more album to fulfill his UMG obligations and that releasing three at once was a deliberate strategy. Drake released ICEMAN, HABIBTI and MAID OF HONOUR together on May 15, 2026, through OVO Sound and Republic Records, a UMG label.
The trilogy made chart history. According to Billboard, the albums opened at Nos. 1, 2 and 3 on the Billboard 200 with 463,000, 114,000 and 110,000 equivalent album units. That made Drake the first act to hold the chart’s top three spots at the same time since it began weekly publication in 1956. TSNVWRLD covered that week in our report on the ICEMAN Billboard 200 sweep.
Neither Drake nor UMG has confirmed that the trilogy closed out the contract. The theory has circulated in hip-hop media since the May release.
Would a new Drake record deal really be the biggest in history?
If it tops $400 million, almost certainly. Drake’s 2022 UMG agreement already sits at the top of commonly cited lists of the largest artist deals. Variety reported on May 3, 2022 that the deal covered recordings, publishing, merchandise and visual media projects, with industry sources putting its value at $400 million or more. UMG has never confirmed a figure.
Other landmark deals were reported well below that. Jay-Z’s 2008 agreement with Live Nation was reported at about $150 million, and Adele’s 2016 deal with Sony at about $130 million. That is why the transcription gap matters less than it seems. Whether Akademiks said “in history” or “his history,” the bar to clear is Drake’s own previous contract.
Would Drake sign with UMG again after the “Not Like Us” lawsuit?
That is the open question. Several outlets framed the new deal as a UMG re-signing, but in the quotes published so far Akademiks names UMG only as the company behind the previous contract. Drake is also still in active litigation with the label group.
Drake sued UMG for defamation in January 2025 over the release and promotion of Kendrick Lamar’s “Not Like Us.” Judge Jeannette Vargas of the Southern District of New York dismissed the case on October 9, 2025, finding the lyrics were nonactionable opinion. Drake appealed, and the U.S. Court of Appeals for the Second Circuit has set oral argument for December 4, 2026, Music Business Worldwide reported. For the full backstory, see our Drake and Kendrick beef timeline.
| Date | Drake and UMG: what happened |
|---|---|
| May 3, 2022 | Variety reports Drake’s multi-part UMG deal, estimated at $400 million or more |
| January 2025 | Drake files a defamation suit against UMG over “Not Like Us” |
| October 9, 2025 | Judge Jeannette Vargas dismisses the suit |
| January 21, 2026 | Drake files his opening brief with the Second Circuit |
| May 15, 2026 | ICEMAN, HABIBTI and MAID OF HONOUR arrive via OVO Sound and Republic Records |
| July 2026 | Akademiks says Drake is chasing a deal that could make him “richer than Jay” |
| October 29, 2026 | Akademiks says a new deal is “definitely official” |
| December 4, 2026 | Second Circuit hears oral argument in Drake’s appeal |
What is confirmed and what is still rumor?
Only the background is on the record. Everything about the new deal itself rests on Akademiks’ word.
| Confirmed | Unconfirmed |
|---|---|
| Drake signed a broad UMG deal, first reported on May 3, 2022 | The $400 million value, which comes from industry sources |
| The ICEMAN trilogy arrived on May 15, 2026 via OVO Sound and Republic Records | That the trilogy fulfilled Drake’s UMG contract |
| Akademiks made the claim on One Night With Steiny on October 29, 2026 | Whether a new deal exists, which company it is with and what it is worth |
| The Second Circuit will hear Drake’s appeal on December 4, 2026 | Any link between a new deal and the lawsuit |
This is also not the first time Akademiks has teased the deal. In July 2026, during a livestream about Drake and Jay-Z, he said Drake was “trying to get what JAY-Z couldn’t have even imagined” and that “if it gets done, he might be richer than Jay,” according to HotNewHipHop. Akademiks has long been one of Drake’s closest allies in hip-hop media, which gives his claims weight with fans but does not make them official.
What’s next?
The next hard date is December 4, 2026, when the Second Circuit hears Drake’s appeal against UMG. A new contract of this size would most likely be confirmed through a label announcement or a trade report in Billboard or Variety rather than a podcast clip.
TSNVWRLD will update this story if Drake, OVO or UMG confirms a new agreement.
Frequently Asked Questions
Is Drake signing a new record deal?
DJ Akademiks said on October 29, 2026 that Drake is close to a new record deal that will likely be the biggest in history. Drake, OVO and Universal Music Group have not confirmed it.
How much was Drake’s last record deal worth?
Drake’s Universal Music Group deal, first reported in May 2022, was estimated by industry sources at 400 million dollars or more. UMG never confirmed the figure.
Is Drake still signed to Universal Music Group?
Drake released ICEMAN, HABIBTI and MAID OF HONOUR through OVO Sound and Republic Records, a UMG label, on May 15, 2026. Akademiks claims those albums completed the contract, but that has not been confirmed.
When is Drake’s appeal against UMG heard?
The U.S. Court of Appeals for the Second Circuit has scheduled oral argument for December 4, 2026. A lower court dismissed Drake’s defamation case over Not Like Us on October 9, 2025.
Leave a Reply