OVO Sound has extended its deal with the parent label.
Warner Bros. has announced an expanded partnership with OVO Sound. The imprint, which was founded by Drake and his longtime creative partners Oliver El-Khatib and Noah "40" Shebib in 2012, will continue its business with Warner, though the details of the new deal are vague.
According to Billboard, OVO Sound executive Mr. Morgan will now work out of the Warner Bros. offices in New York City. It is unclear what other changes may come under the new arrangement.
The report goes on to reveal that the label is expected to release new music from Roy Woods, dvsn, and Majid Jordan in 2017. PARTYNEXTDOOR is also signed to the label, though it is not mentioned whether or not he will be releasing solo material this year.
If nothing else, this is a good sign that Warner is confident in the OVO team.
Though a founder of the imprint, Drake remains signed to Universal's Young Money/Cash Money/Republic.