This June, Lil Pump ink a deal with Tha Light Global, an imprint of Warner Bros Records. Now we have some details of what he’s getting from the label.
According to TMZ, Lil Pump’s who have had a phenomenal year (sold out shows and No.1 spot on Billboard). As a kid who first got a bit of fame off of a few Soundcloud single, he’s closing in to become a star in the rap world if he continues the path he’s on. While he’s often criticized for his lack of lyricism, there’s clearly a market for that. So much he’s inching to becoming a millionaire before hitting 20.
According to the report, Pump’s debut album, the commercial mixtape “Lil Pump,” netted him a $345k advance. His smash hit “Gucci Gang” should more than pay back that, plus he gets 15 percent of all royalties.
It’s a five-album deal, and his advances on albums 2-4 are between 200k and 400k, depending on how well the previous album did. He can make up to 500K on the last album of the deal.
He also gets a cut of merchandising which suggests Pump is in a controversial 360 deal. A 360 deal is when the record label gets a percentage of all the artist’s revenue streams. So besides record sales, the label could get a piece of an artist’s show money, his merchandise, his endorsements, show money, his merchandise, his endowments, his TV, and movie. Many believe such deals exploit young artists. On the other hand, Pump is a 17-year old with a limited vocabulary who just got a $345,00 advance.