Brockhampton rca deal 15 million usd 1
Source: Instagram
Source: Instagram
What exactly does BROCKHAMPTON's $15 million dollar label deal entail?
Hip-hop collective BROCKHAMPTON announced their deal with RCA Records reportedly worth upwards of $15 million.
According to a report in Billboard citing multiple sources at major record labels, the deal covers all 14 members of the group and spans for six albums over the course of three years.
RCA reportedly won't touch the money that is made from live shows or the sale of merchandise. Though the deal does not include touring or merchandise, the group is slated to play major festivals and large ballrooms this summer that will boost its commercial potential.
"People are really excited about the touring -- the streaming numbers and the consumption numbers aren't big," a source, whose label considered the deal, told Billboard. They added, "It's like an Odd Future deal, but when Odd Future did that deal, it was close to $2 million." This statement seems to be in reference to Odd Future signing a deal with Sony and Red Distribution in 2011 to start Odd Future Records.
Brockhampton's record deal is one of many substantive hip-hop signings this year. In recent months, Illinois rapper Juice WRLD signed to Interscope for $3 million, 17-year-old Florida rapper Lil Pump signed to Warner Bros for $8 million, and L.A. rapper 03 Greedo signed to Alamo/Interscope for $1.7 million. This aggressive spending points to the music streaming boom that could generate billions in major-label equity.
READ: Tyler, the Creator, BROCKHAMPTON, Khalid & More To Perform At The 2018 Boston Calling Music Festival
Group member, Abstract expounded on news of the deal in an Instagram post this week writing, "Nothin changes. videos still diy, music still made in our house, and we’re still gonna make the best possible product for y’all." He continued, attesting to the group's mission. "They understood that we wanted to be the biggest boyband in the world and I’m a firm believer in not being able to do everything on your own. Find people whose morals and vision align with yours and follow that. Apple had to get out of the garage at some point."
Abstract also released a statement on Twitter in response to the news:
RCA has not released a statement.
READ: BROCKHAMPTON Releases 15-Song Tracklist For ‘Saturation III’
Brockhampton's next studio album, Puppy, is set for release this summer.
Source: Billboard
