Cash Money

Tuesday, April 18, 2017

Cash Money Sued Over Missing Drake Profits

Drake
Photo source: Instagram

Aspire Music Group has sued Cash Money Records over alleged missing profits and copyright royalties from Drake‘s first six solo albums, according to court documents reviewed by Billboard. The earnings could end up totaling in the tens of millions.

The suit cites Cash Money co-owners Bryan “Birdman” Williams and Ronald “Slim” Williams, and Young Money Entertainment, as defendants.

Billboard writes: “In the filing, Aspire claims that in 2008, it signed an exclusive recording agreement with Drake, then entered into an agreement in June 2009 with Cash Money Records that would allow Drake to record for the label in exchange for one-third of the net profits of his first six albums and one third of the copyrights of his master recordings for those same albums, as well as monthly accounting and payments.”

However, Aspire alleges that Cash Money never paid out any profits outside of “a few modest advances” and that Aspire was never registered with a one-third ownership stake on any recordings.

The court documents specify the albums as 2009’s So Far Gone, 2010’s Thank Me Later, 2011’s Take Care, 2013’s Nothing Was the Same, 2015’s If You’re Reading This It’s Too Late, and 2016’s Views.

The court documents also reveal Cash Money’s alleged fraudulent accounting.

According to Billboard, “Cash Money sent copies of its payments from distributor Universal and included deductions for recording, marketing and production costs, as well as artist royalties and advances, that had already been deducted from Universal’s payments — effectively making them double deductions. The result was accounting that showed no payments due to Aspire.”

Aspire is not suing for a specific amount of money. Instead, the company is asking the court to supervise an audit of Cash Money’s books to determine the amount due.

Related: Ed Sheeran Sued For Allegedly Copying Marvin Gaye’s ‘Let’s Get It On’

| Music Industry
Cash Money, Drake, Legal,
Wednesday, January 28, 2015

Lil Wayne Sues Cash Money for $51 Million

Birdman and Lil Wayne
 
Last month, Lil Wayne called out his label Cash Money and its boss Birdman for delaying the release of his next album. Now he’s suing the label for $51 million.
 
According to a lawsuit obtained by TMZ, Wayne says Birdman and Cash Money violated their deal by withholding tens of millions of dollars for his long-delayed album, Tha Carter V. The project has yet to be released and Wayne claims he’s entitled to leave the label as a result.
 
Apparently, Wayne was supposed to receive an $8 million advance when he began working on Tha Carter V and $2 million after completing it, but has yet to receive any of that money.
 
Wayne also wants the judge to declare he’s the joint copyright owner of all Young Money recordings, which includes Drake, Nicki Minaj and several others.
 
Young Money is an imprint of Cash Money and was founded by Wayne in 2005.
 
Related: Lil Wayne Blasts Cash Money: ‘I Want Off This Label’

| Music Industry
Cash Money, Legal, Lil Wayne,
Thursday, December 4, 2014

Lil Wayne Blasts Cash Money: ‘I Want Off This Label’

Lil Wayne and Birdman
 
Lil Wayne vented his frustrations with his label Cash Money Records and its CEO Birdman on Twitter today. In a series of tweets directed to fans, Weezy said Cash Money won’t release his long-delayed ablum Tha Carter V and that he wants to leave the label. Read his words below:
 

 
Wayne’s tweets come as a surprise, as he’s maintained a close relationship with Cash Money for many years.
 
“Everybody knows I came into the game at 11 years old with Cash Money Records, before we even had a major deal,” Wayne told MTV News back in 2012. “We signed a deal in I don’t remember when, and I been with Cash Money ever since. So if you’re looking for integrity, I am the definition. If you’re looking for a person that’s gonna stay down, I am the definition. If you’re looking for loyalty, I am just that.”
 
In 2005, Wayne launched Young Money Entertainment, an imprint of Cash Money, and signed an additional four album deal in 2008. He’s also released five singles from Tha Carter V: “Believe Me,” “Krazy,” “Grindin’,” “Gotti” and “Start a Fire.”
 
Within minutes of tweeting, rapper Pusha T responded by suggesting that Wayne should join Kanye West’s label, G.O.O.D. Music:
 

 
This isn’t the first time a Cash Money artist has voiced grievances with the label, though. In October, Tyga revealed on Twitter that his album, The Gold Album: 18th Dynasty, was completed but the label was “holding him hostage.” He sent the following tweet today, apparently in support of Wayne’s comments:
 

 
Related: Quincy Jones Criticizes Lil Wayne and EDM

| Music Industry
Cash Money, Lil Wayne,

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