Lil Wayne Sues Universal Music for Tens of Millions In Unpaid Royalties

 
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Lil Wayne, the famous American rapper, filed a lawsuit against Universal Music, claiming that the label owes him tens of millions of dollars in unpaid royalties. The lawsuit is the latest twist in a long-standing dispute between Lil Wayne and Cash Money Records, which has been going on since 2015.

The dispute between Lil Wayne and Cash Money Records began when Wayne’s Young Money label entered into an agreement with Universal Music’s Cash Money Records in 2003. The aim of the agreement was to discover and nurture new artists into global stars and expand on the massive impact Wayne enjoyed in the rap and pop worlds. The agreement worked on the basis that Wayne would find new artists and sign them to YMCMB, and both parties would share the profits. The deal was simple: Wayne’s Young Money would receive 49%, and Universal’s Cash Money would receive 51%.

However, there were many disagreements throughout the term, but they still extended the agreement numerous times. The final agreement expired in June 2015 and has not been renewed. Shortly after the agreement expired, Lil Wayne (real name Dwayne Carter) initiated legal proceedings, claiming Cash Money didn’t stick to the agreement. Wayne claimed that in the signed contract, Cash Money agreed to pay a $10 million advance for each album ($8 million before recording and $2 million on completion), but this never happened.

In fact, Wayne allegedly received just $2 million of the $8 million recording advance for his Tha Carter V album – He didn’t receive anything else despite the album being completed. Wayne also claimed that Cash Money agreed to pay $200,000 a quarter for Young Money’s ‘overhead’ expenses but also failed to make those payments. As a result, Wayne filed a $51 million lawsuit, which is currently pending in Louisiana federal court.

In the latest lawsuit, Lil Wayne is after Cash Money’s parent company, Universal Music Group, the largest recording label in the world. Wayne’s new lawsuit states that Universal Music has been cashing in on millions of dollars that were earned directly from artists he signed to the label. Artists like Nicki Minaj and Drake top the list, and Wayne is alleging that Universal Music is using the royalties from these artists to repay itself for the $100 million advances to Cash Money Records.

The lawsuit also targets SoundExchange, the non-profit royalty collection organization that oversees digital radio royalties. Wayne claims that SoundExchange has been complicit in the alleged unpaid royalties and owes him millions of dollars in unpaid royalties. According to the lawsuit, Lil Wayne is seeking damages in the amount of $40 million, which represents the unpaid royalties and damages he claims to have suffered as a result of SoundExchange’s actions.

The lawsuit has attracted a lot of attention from the music industry and fans alike, with many speculating as to what the outcome of the case will be. It is clear that Lil Wayne is determined to get what he believes he is owed, and the case is likely to continue for some time. Whatever the outcome, it is clear that the dispute between Lil Wayne, Cash Money Records, and Universal Music is far from over.