Lil Pump Signs New $8 Million Record Deal
3/12/2018 4:21 PM PDT
EXCLUSIVE
Lil Pump[1] just got a recording contract with Warner Bros. Records and this time it looks like it's going to be binding.
This is the second round of trying to get a valid contract between Warner Bros. Records and Pump. The first contract was invalid because it was never validated by the court and he's a minor -- 17 years old.
According to the contract, Warner Bros. Records agrees to pay Pump an $8 million advance, and then $9,000 for the first year, $12k for the second and $15k for the 3rd through 7th contract years.
As for royalties, this is where Pump can score, getting 14% in the U.S. There are other royalties that are even higher. There are provisions that give him up to 66% in royalties depending on the format.
