The "Hotline Bling" hitmaker and his long-time business partner, Future the Prince, have signed a first look deal with the movie mogul's new Forest Hill Entertainment company.
Budman worked as a co-producer on director Kathryn Bigelow's Academy Award-winning 2012 war film, "Zero Dark Thirty", for production house Annapurna and also to co-produced David O. Russell's 2013 release "American Hustle".
"Drake and I are thrilled to partner with our longtime friend at the inception of Forest Hill Entertainment, supporting Matthew and his team as they set new, unprecedented boundaries of groundbreaking content," Future the Prince, real name Adel Nur, tells Deadline. "This partnership aligns strongly with our mission of developing and fostering emerging and preeminent talent across the entertainment landscape."
Drake and his business partner have already tapped into successful ventures as content creators to expand the rap superstar's empire, but this is their first foray into major film productions. The Toronto based hip-hop star signed a lucrative $19 million (£15 million) deal with Apple Music in 2015 for exclusive content production and he also has credits as a producer for 2017 sports documentary The Carter Effect, about Canadian basketball hero Vince Carter, and executive producing tags on new high school drama TV series "Euphoria", set to hit screens this year.
Drake began his career as an actor on teen TV show "Degrassi: The Next Generation" in the early 2000s and he recently opened up about his desires to take up acting again, although there is no word on whether he plans to star in the films he'll produce with Budman and Forest Hill Entertainment.
"When I get back into acting, I want to do things that make people go, 'Wow, I didn't expect that,' " he told The Hollywood Reporter.
Enterprising Drake has his fingers in fashion and the beverage market too, launching his whiskey line Virginia Black in 2016.