Does Drake Own OVO? Inside the Hip Hop Mogul‘s Growing Empire

Yes, Drake does own a controlling share in the successful record label, fashion line and media company October‘s Very Own (OVO) that he co-founded over a decade ago in Toronto. But OVO is bigger than just Drake. Through strategic partnerships and diverse revenue streams, his startup has grown into a culture-shaping lifestyle brand.

Drake‘s Majority Stake

According to UK regulatory filings, Drake owns 60% of OVO‘s global business. Childhood friends Noah “40” Shebib and Oliver El-Khatib own 20% stakes each. This ownership breakdown reflects Drake‘s leading role since OVO‘s inception.

Drake‘s $250 million personal net worth stems predominantly from OVO along with his recording and touring income. His catalog has earned over 50 billion Spotify streams. As both OVO‘s founder and most bankable artist, Drake takes a hands-on role across the company‘s ventures.

OVO‘s Origin Story

Drake laid OVO‘s foundations as an independent artist in Toronto before signing his first major label deal in 2009. His collaborators Shebib and El-Khatib worked on his breakout mixtapes and helped shape OVO‘s brand identity of luxury and inclusion.

When Take Care became a Grammy-winning smash in 2011, Drake leveraged his new clout to formally launch OVO as a label and clothing line. It gave him ownership and creative control at a level unprecedented for a rapper affiliated with a major label.

OVO‘s strategy mirrored what Kanye West was concurrently doing with his GOOD Music imprint. But Drake took the extra step of building a multidimensional lifestyle brand.

Inside OVO‘s Operations

OVO now oversees three main entities:

OVO Sound

OVO‘s record label division has expanded beyond Drake to develop artists like Majid Jordan and PARTYNEXTDOOR into their own well-known acts.

Artists Twitter Followers
Drake 28.1 million
PARTYNEXTDOOR 1.4 million
Majid Jordan 142k
Roy Woods 635k

Along with music recordings, OVO Sound generates revenue from publishing rights, merchandising, and sync licensing for placements in ads, TV, and movies.

OVO Clothing

OVO operates over a dozen retail stores across Canada and the US. The brand has moved beyond hoodies and t-shirts into high-fashion collaborations with Canada Goose, Tourne de Transmission, and Roots.

OVO clothing is also stocked at major retailers like Foot Locker. Expanding into luxury fashion has boosted profit margins.

OVO Goods

This branch oversees partnerships with companies like Sennheiser, Cafe OVO, and Slicex to produce co-branded goods. Drake‘s business acumen ensures these collaborations are creative and authentic to the OVO name rather than generic merchandise.

Valuation and Future Outlook

Mitsubishi Corporation‘s 20% stake acquisition in 2019 valued OVO at $1 billion. The company has been touted as a unicorn that could eventually reach a multi-billion dollar valuation.

OVO faces the challenge of expanding beyond its reliance on Drake. But its early artist development success and infrastructure across media and retail point to a strong post-Drake future.

For now, Drake still firmly oversees his empire. OVO is the realization of his long-term vision for how artists can build independent brands that resonate with audiences for decades.

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