Jay Z’s 150 million dollars contract with Live Nation now is on its last lap as he looks at taking a stake in his music business at Roc Nation. He signed a huge ten-year contract with Live Nation for $150 million dollars in the year 2008. What this means is that the “360 deal” that is up in the coming year means that there might be a “buy-sell.” According to sources, Live Nation hopes to continue touring with Jay Z but will not be involved in recorded music.
An insider in the music industry stated that Jay Z’s contract for Live Nation would not be extended. Live Nation had bought the artists’ rights and recorded music, but they will not be buying recorded music, Some of Roc Nation’s artists include Jay Z, Rihanna, Meek Mill, Fat Joe, and Shakira. We also know that Live Nation has a long-standing relationship with Jay Z which has been very lucrative and Live Nation would like to continue this for many years.
Jay Z and his top executive at Roc Nation, Desiree Perez met with Sir Lucian Grainge who is the CEO and chairman of Universal Music Group that sparked speculation that UMG could buy a stake in Roc Nation. This could mean that Jay would be able to develop new artists and also boost Tidal, which is his streaming service that is competing with Apple Music and Spotify. More of this on igstars.com
UMG already has a deal with Roc Nation, it is a small percentage, but if they invest more, UMG would have a larger stake at Roc Nation. An insider at UMG stated that the partnership they have is quite significant, and it would be amazing if they could do more business with him, but there have been no discussions on Jay Z’s deal with Live Nation ending. Representatives for Jay Z, Roc Nation, Live Nation and UMG did not comment on anything. Related article on hitsdailydouble.com.
Desiree Perez is the CEO of Roc Nation Enterprises. She has known Jay Z for over 20 years. She has an outstanding track record with running SC Enterprises and is very qualified, and she has proven herself and is also known as a tough negotiator. She is responsible for Beyoncé’s Formation performance and even Rihanna’s Samsung deal. She is part of a collective that runs all the operations at Roc Nation. Additional article to read here
More of Dez updates and blogs on https://www.linkedin.com/in/desiree-perez-b9451222