It looks like major labels are taking advantage of keeping their top-selling artists locked down, as Logic reveals that he has signed a whopping $30 million deal with Def Jam Records.
During an interview with Zane Lowe on Beats 1, the Maryland rapper explains that he recently went through a “life change,” which was upgrading his contract with his longtime label home. He first talks about how his original deal was worth $200,000 when signing with the label in 2013, but he’s since been able to pitch himself for a much larger sum.
“When I first signed my deal, the advance was like 200 grand,” he explains. “So going from Section 8 and food stamps and welfare to 200 grand was life-changing, but the life change I’m talking about is the $30 million-dollar deal I just signed. That shit freaked me out. I felt like a target.”
Fans already got hints about the “Black Spiderman” spitter’s new deal with Def Jam, as he teased it on his “Wassup” track with Big Sean off of his recent Bobby Tarantino II mixtape.
“I just updated my old deal,” he raps. “Told Def Jam no less than 20 mill…and they cut that shit!””
Logic’s news follows in the footsteps of Lil Pump, who just signed another new deal with Warner Bros. Records for $8 million. The rising superstar’s contract with the label was previously voided at the top of the year being that he was underage at the time of the original signing.