Digital Media Dose- Lil Wayne Sues Universal for Profits from Drake and Nicki Minaj

Hello friends of The Hollywood Lawyer! We are excited to kick off our Digital Media Dose blog series where we will be giving you guys the most relevant news and updates about the ever-changing realm of digital media.

This week, we want to comment on the lawsuit that Lil Wayne filed against  Universal Music earlier this week on March 28. The lawsuit claims that Universal Music owes Lil Wayne $51 million in unpaid royalties.

Specifically, Lil Wayne’s Young Money label entered an agreement with Universal Music’s Cash Money Records back 2003, with the goal of discovering new artists and nurturing them into global stars. The deal would provide Wayne with 49% of the profits and Universal’s Cash Money would receive 51%.  When the final agreement expired in June 2015 and was not renewed Wayne filed on the grounds that he did not receive the accorded percentage, as well as the promised refunds of overhead expenses. Wayne is also alleging that  Universal Music is using the royalties from his signed artists (Drake and Nicki Minaj) to repay itself for the $100 million advances to Cash Money Records.

Click here if you wish to see the filing. As we await to hear the outcomes, we want to encourage our friends and clients to always have an entertainment attorney revise their contracts before signing. It may seem like overkill at the moment, but cases like these show the need for legal consulting within the entertainment industry. We are so proud of the legal talent that we have here at The Hollywood Lawyer and pleased to announce that it is at your service at a 15% discount for first time clients!

Best of luck to both parties and may the law and justice prevail in the end!

In the meantime, let us take a moment to enjoy the one and only Lil Wayne:

 

——————————————————————————————————————

Disclaimer: Please note that the information contained within this blog post and site is offered simply as a consideration to visitors who are in the entertainment industry and are seeking to learn more about various areas of entertainment, be it in film, movies, television, music, digital, new media, film financing, merchandising and/or branding. As such, the information so provided should never be construed as legal advice. If you need further assistance or legal advice for your specific matter, please do not hesitate in contacting an entertainment attorney (film, music, digital, licensing, financing) here in Los Angeles, California at The Hollywood Lawyer by(1) emailing us at info@hollywoodlawyer.com; (2) calling us at (323) 300-4184; or (3) filling out our online form. http://www.thehollywoodlawyer.com.

About thehollywoodlawyer (335 Articles)

At The Hollywood Lawyer in Los Angeles, our entertainment attorneys are committed to assisting all talent (actors, artists, singers, writers, dancers, directors, producers, directors, editors, engineers, executives), entertainment companies (film studios, recording facilities, record labels, management companies, agencies, publishing companies, film studios, distributors), start-ups, small businesses,filmmakers, music makers and social entrepreneurs,with all of their personal, career, business and/or charity law needs be it talent representation or accompaniment through a deal or negotiations.

%d bloggers like this: