Drake Going Independent Would Shut Down the Music Industry, According to Steve Stoute
On Friday (July 17), Stoute conducted the virtual SelectCon conference in which he spoke to a number of movers and shakers in the entertainment industry. During a conversation with rapper Russ, the topic of Drizzy's sway as an independent artist was discussed thoroughly. Both men believe it would drastically alter how record labels operate if Drake went independent.
“You think that if Drake right now, completely independent...if Drake posts a picture on the ’Gram of his new album, link in bio—fuck a link in bio, 'new album out'—and he was fully independent, Drake will make $10 million a week for fucking 60 weeks,” Russ, who recently gained his independence from Columbia Records, opined, according to Variety.
Stoute agreed. “I said this before, Drake is about to come out in the next six months," the hip-hop mogul shared. "Drake is about to get the biggest bag in the history of the music business by far. Both A and B, they don’t want that to happen. Because the day that happens, they might as well close the business down.”
He added, “If Drake goes independent, the music business is over. If Drake goes independent, the music business is done.”
Whether to go indie or major has been a hot topic among artists for years. Recently, Chance The Rapper is a shining example of an artist who has had major success despite refusing to sign a major label deal.
After years working as an executive in the music industry, Stoute has recently established a new program called UnitedMasters that seeks to give artists 100 percent of their royalties.
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