UPDATE: Lil Pump shared a video of himself on Monday night, explaining that the $8 million is for one album.
Lil Pump has signed a new record deal with Warner Bros.
According to TMZ, the deal will grant the Florida rapper a cool $8 million advance. After that, he will receive $9,000 in the first year, $12,000 the following year, and $15,000 for the third through seventh contract years. While the contract appears to be binding, it's the royalties that could bring Lil Pump big rewards. He will earn 14 percent in the United States and also have "provisions that give him up to 66 percent in royalties depending on the format."
This deal will mark the second time Lil Pump has signed to Warner Bros. His self-titled debut album was released through the label last October, which debuted at No. 3 on the Billboard 200 chart. But his contract was reportedly made void in January due to the rapper being underage at time of signage (he was 16 years old) and it was never certified by the court.
This seems to be an upgrade over his initial deal, which saw Pump getting a $345,000 advance on his debut album, plus 15 percent royalties, according to TMZ.
Pump was then crowned a free agent and received offers from Gucci Mane and DJ Khaled. He recently teased that a new record deal was about to be announced. "New deal on the way, bitch. New fuckin' deal, bitch!" he exclaimed in an Instagram story. The rapper previously boasted that he wouldn't sign to a label for less than $12 million.
"Lil Pump got something to say," he told fans on Instagram Live in January. "I ain't signing to none of these fuckin' labels for nothing less than 12 to 15 mill. So y'all think y'all 'bout to fuckin' get me for the low? Y'all can go suck my fucking dick. Fuck all y'all labels, man." Seems like he ended up happy with $8 million if TMZ and Billboard are correct, though.