Rick Ross Empty Venue Performance Actually Private Party Gig

Video of Rick Ross performing for a scattered group of people recently went viral, suggesting the Bawse is taking an 'L' in his beef with Drake -- but that's not really what went down.

Craig Mogil, the head of venue and agency relations for GigFinesse, tells TMZ Hip Hop ... Rozay was booked for a private afterparty connected to ROCKET-X Dallas' home services conference.

Ross' May 3 performance had been booked since way back in January ... clearly enough time to generate ticket sales if that was the goal, but that wasn't the case here.

The Texas Live! venue was contracted to host 100-150 guests and Craig estimates it was at its capacity -- and the "Aston Martin Music" rapper also held a meet and greet for around 50 people afterward.

Craig tells us video wasn't permitted, but in today's social media era, it's hard to keep things in a bottle. Still, he says it was one of the best intimate shows he witnessed and RR was gracious with everyone he met!!!

We just broke the story ... Rozay is throwing down some serious cash for home improvements -- $20 million to be exact, so it makes sense why he would be associated with a home services gig.