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Always one for grand statements, Drake saw his surprise new mixtape “If You’re Reading This It’s Too Late” explode onto the top of the U.S. album chart, selling 535,000 units and finally dethroning Taylor Swift’s monster hit, “1989,” which had spent 11 non-consecutive weeks at the No. 1 spot.

The rapper’s latest collection, which recalls both the release method and success of Beyonce’s self-titled album — dropped without warning in December 2013 — fuels the speculation surrounding Drake’s possible departure from his label, Cash Money Records. The release of “If You’re Reading This” may have fulfilled his last contractual obligation to Cash Money, leaving Drake free to release his upcoming “Views From the 6,” his fourth studio album (due out later this year), on his own label.

Label squabbles aside, Drake’s latest has already made headlines for other reasons, chiefly its big week on Spotify. According to Billboard, “If You’re Reading This It’s Too Late” has achieved the highest number of streams for a debut week in Spotify history (17.3 million streams in three days), beating out Drake’s own “Nothing Was the Same,” which previously held that record with 15.8 million streams.

In addition to Drake’s huge week, a second release entered this week’s chart with, ahem, a bang: the soundtrack to “Fifty Shades of Grey,” which moved 258,000 units following the film’s complete domination of Valentine’s Day weekend (raking in $94.4 million). The album features sensual tunes from Beyonce, Ellie Goulding and Sia, among others.

So where does that leave Ms. Swift? The reign of “1989” may be coming to an end, with the album slipping to the chart’s fifth spot this week, moving 125,000 units, a 16% change from last week, when Swift was still No. 1. This lapse coincides with the lukewarm reception for Swift’s latest music video, “Style,” which some found to be “very boring.”

The “1989” decline was aided by a huge Grammy bump in sales for Sam Smith’s “In the Lonely Hour,” which sold 164,000 units after Smith nabbed new artist, pop vocal album, record of the year and song of the year awards. This lands Smith at No. 3, a 91% change from last week.

Despite the flurry of smack being talked about this year’s Grammys, it’s clear from this week’s chart that the awards do inject some vigor into the often-sleepy album-buying game. Ed Sheeran’s “X” also benefited mightily from Grammy exposure, claiming the No. 4 spot with 140,000 units sold, as did Beck, whose “Morning Phase” shocked many (especially Kanye West) when it won album of the year. As a result of the buzz, “Morning Phase” sold 71,000 units, putting Beck at No. 8 with a whopping 483% increase from last week. Perhaps Beck will end up sending Mr. West a thank-you note.

Coming in at the No. 9 spot is the compilation of the 2015 Grammy Nominees, which breaks into the top 10 with 65,000 units, enough to launch it from last week’s No. 15 rank.

This week’s top 10 is rounded out by the usual players, with Meghan Trainor’s “Title” holding strong at No. 6 with 72,000 units sold, and the always popular NOW series’ latest, “Now 53,” coming in at No. 7 with 71,000 units. Maroon V’s “V” slipped from the ninth slot to the 10th, with 63,000 units, still up 35% from last week’s sales.