The company is seeking damages as well as a declaration that the film is authorized by Drake.
The film covers a concert by Drake in his hometown Toronto in 2009, a year before he burst on the international scene with his debut album Thank Me Later, and is being promoted as footage that had been feared lost.
The company submitted a document to court that indicated that before the show Drake agreed to US$15,000 (A$19,664) along with 25 per cent of profits from merchandise sold at the concert and 15 pe rcent of the film's profits.
It was unclear if the amount was in US or Canadian dollars. The lawsuit said that Drake agreed to give SpectiCast the right to distribute the film everywhere but Canada.
The lawsuit alleges that Drake had raised no complaints until several days ago, when he announced the lineup for his own label's Ovo Fest in Toronto in August.
"On information and belief, Drake's secret motivation for publishing the damaging falsehoods about the film, and trying to destroy its commercial and artistic success, was to drive Drake's fans to purchase tickets to his own Ovo Fest," the lawsuit said.
Drake did not immediately respond to the lawsuit. SpectiCast said that the film was opening Thursday in 350 US theaters and hundreds more abroad.
Last month, Drake released his album If You're Reading This, It's Too Late, which debuted at No.1 on the US charts.
- AAP