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Aspire Music Group

From Wikipedia, the free encyclopedia

Aspire Music Group, LLC is an American record label founded by Cortez Bryant, Gerald "Gee" Roberson and Derrick Lawrence in 2008. Their roster currently only includes multi-platinum Canadian rapper Drake.

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Transcription

Contents

History

In 2008, Houston-based music executive Jas Prince discovered Drake and introduced him to Cortez Bryant, who served as Lil Wayne's manager together with Gerald "Gee" Roberson. Cortez, Robertson and partner Derrick Lawrence then signed Drake to a four-year exclusive management agreement through their companies Wash House Entertainment, LLC and Three Kings, LLC. However, they also established Aspire Music Group and inked an exclusive recording agreement with Drake, making them his management and record label. Shortly after, Aspire pitched Drake to their other management client Lil Wayne's record label Young Money Entertainment—a joint-venture with Cash Money Records—and entered into a four-album recording agreement. The agreement granted Aspire thirty-three percent (33%) of the profits, thirty-three percent (33%) of Drake's future master recordings (with the other two-thirds going to YMCMB) and a $400,000 advance for his first album, while Drake received a $900,000 recording fund.[1]

Legal issues

On July 23, 2012, Jas Prince filed a lawsuit against Aspire Music Group for not honoring an oral agreement which stated that he would be paid twenty-two percent (22%) of Aspire's thirty-three percent (33%) share of Drake's recording profits, twenty-two percent (22%) of Aspire's thirty-three percent (33%) ownership share in Drake's master recordings and five percent (5%) of Drake's gross compensation derived from the management agreement.[1]

In April 2012, Drake retained Robert S. Meloni as litigation counsel in order to either renegotiate or terminate the recording agreement. In the breach of contract notice to Aspire and YMCMB, Drake's attorney claims that Drake had fulfilled his recording obligations to the labels, not received any royalties whatsoever and there was blatant conflict of interest between the parties involved. Drake has since severed management ties with Cortez, Robertson and Lawrence, although he's still in an exclusive recording agreement with Aspire.[1]

Discography

References

  1. ^ a b c Youderian, Annie. "Drake's Discoverer Says Managers Stiffed Him". Entertainment Law Digest. Retrieved 2015-02-02.
This page was last edited on 11 September 2018, at 13:26
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