Trippie Redd has already had a pretty impressive career so far for someone routinely overlooked by the music industry establishment, but if his latest social media posts turn out to be true, he’s about to have his biggest year ever. The Canton, Ohio rapper posted a pair of Instagram updates celebrating his latest career achievements: raising his performance fee to nearly a half-million dollars and signing a new recording contract allegedly worth millions.
“Just signed to @elliot for 30million,” he wrote in the caption of one post, referring to Elliot Grainge’s 10K Projects. “Now it’s time to start dropping ALLTY5 songs.” “ALLTY5” appears to be an acronym referring to Trippie’s popular mixtape series A Love Letter To You, which has four installments to date. And while that $30 million looked impressive at first glance, some fans were skeptical, prompting Trippie to clarify some of the deal’s terms in the comments. “Prob locked in for 10 years,” one dubious commenter wrote. “3 albums for 3 years,” Trippie replied.
Trippie had previously gloated about his booking fee going up, writing that he currently receives “250k – 400k each show that I’m booked for.” Considering that he hasn’t exactly been a favorite of corporate America, that figure may seem astonishing but it makes sense considering how long he’s been a festival favorite and a fixture of the Rolling Loud scene.
Of course, it’s important to remember that record deals aren’t like NBA contracts; it’s highly unlikely anyone just handed Trippie $30 million. That’s probably just the money the label is willing to invest in recording and promoting his next three albums with the obvious requirement that he recoup whatever’s he’s advanced in order to get paid on the backend. Still, that’s a surefire sign of the label’s confidence in Trippie — which makes sense, considering he’s 10k’s best-established artist.
Source: https://uproxx.com/music/trippie-redd-signs-30-million-record-contract/