Kanye West’s latest album, Vultures 1, a collaboration with Ty Dolla $ign, soared to the top of the Billboard 200, raking in over $1 million in its first week.
The rapper’s move towards independence, with no major label involved, is turning heads in the industry. Recently he had given his guideline for signing of deals it read; “the first thing that changes about Record Deals is actually lawyers.
“We need Plain English contracts. A Lawyers role is to IMPROVE deals…. not charge for contracts we cannot understand or track. Re-write deals to be understandable from FIRST READ.”
Kanye West, who decided to follow his 2020 guidelines for artist-friendly deals, released Vultures 1 through Label Engine for distribution, which means the duo is likely pocketing more than the 80% share West advocated for in his earlier tweets. Billboard estimates their earnings at around $986,000 after streaming and sales.
Contrasting his current success, West’s past contracts reveal a stark difference. In the major label era, he earned a mere 14% royalty on album sales, facing the challenge of recouping advances before making any profit.
Vultures 1’s impressive debut week also highlights his financial success outside music boasting a $19 million single day profit from his clothing line.
