In 2008, rapper, Jay Z made a 10-year deal selling his music with Live Nation through his recorded music business, Roc Nation for about $150 million. Live Nation has reported that they are hoping to continue the deal with Jay Z but will be backing out of recording music. As a result, Jay Z has reportedly been searching out other music bigwigs. As a result, either Live Action or Jay Z could buy Roc Nation outright or one side could sell their stake in the deal to the other.
Before the news broke out to the public, Jay Z and his business partner at Roc Nation met with Sir Lucian Grange who is the CEO of Universal Music Group (UMG). The meeting allegedly sparked speculation that UMG could buy its own stake in Roc Nation. If they do, it will likely open the door to more artists under Jay Z and bolster the Tidal streaming support. However, UMG insiders are claiming that UMG does already have a small stake with Roc Nation. However, if they make a larger investment at this time, then they’ll have one of the main stakes with Roc Nation.
Desiree Perez is the Chief Operating Officer at Roc Nation. She has been working with Jay Z for about the past 20 years. It has been reported that she has a remarkable talent for crunching numbers and is such a shrewd negotiator that she beat Empire’s own Cookie. She also played a very strong part in Rihanna’s Samsung deal. Other artists she works with include Shakria, Jana Fleishman, and Ty Smith.
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Jay Z’s lucrative $150 million deal with Live Nation will be ending in 2018. However, the rap king is signaling other industry bigwigs about a possible partnership with Roc Nation, his recorded music company. The ten-year landmark $150 million deal, popularly known as “the 360 deal” was signed in 2008. Additional article to read on pagesix.com.
Although Live Nation looks forward to extending this lucrative deal, sources within the firm confirmed that Live Nation is no longer interested in the business of recorded music. Other sources within the music industry confirmed that Live Nation would not be extending the 360 deal. Although Live Nation had bought stakes in Roc Nation’s artists’ rights and their recorded music, they are no longer into the recorded music business. On the other hand, Live Nation is committed to extending their lucrative venerable touring relationship with the rap mogul.
A Possible Deal with Universal Music Group (UMG
Jay and Roc Nation’s executive Desiree Perez met with the CEO and chairman of Universal Music Group. The meeting has sparked rumors that UMG could be buying a stake at Jay Z’s Roc Nation. If the deal is signed, Jay Z will have more resources to strengthen new artists as well as boost up Tidal, which is facing fierce competition from Apple and Spotify Music services.
Although UMG has an existing distribution deal with Roc Nation, the deal is just a small percentage of their business. Given that Roc Nation has signed several major players including Shakira, Meek Mill, Jay Z, Fat Joe and Jay Z, deal with it could be very beneficial to Universal Music Group. Additional reading here
Desiree Perez has made her name in the music industry, not as a singer but as a music manager with unmatched negotiation skills. Insiders from her circle have attributed Rihanna’s lucrative deal with Samsung to her excellent negotiation skills. Currently, she is the executive of Jay Z’s Roc Nation, where she is responsible for label management and publishing. For timeline updates, click crunchbase.com.
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