The 10-year landmark deal that Jay Z signed with Live Nation in 2008 draws to an end. The landmark $150 million deal is one of the biggest contracts that the rap mogul has ever signed in his entire music career. He is sounding out various bigwigs in the music industry about being a stakeholder in the Roc Nation.
The 360 deal is up for grabs next year, and this might trigger a buy-sell scenario. That implies that any party can decide to sell their stake in Roc Nation to the other party or purchase the firm outright. According to recent reports, Live Nation anticipates to continue its profitable touring deal with the hip-hop star Jay Z, but the company is backing out of the recorded music side.
According to the reports from a music insider, the 360 deal with Live Nation will not be extended once it ends. The Live Nation has purchased the rights of its artists and recorded music. However, the company declined to extend any of those relationships. Note that the Live Nation does not participate in the business of purchasing recorded music. Some of the famous artists who have signed deals with Roc Nation include Jay Z, Rihanna, Fat Joe, Shakira, and Meek Mill.
However, the sources from Live Nation added that they have a long-enduring and lucrative touring relationship with the top hip-hop artist. Many stakeholders believe that Live Nation wants the relationship to continue for many years.
About Desiree Perez
Desiree Perez is a close business partner of the prominent rap mogul Jay Z. She has been working with Jay Z for almost two decades. Perez prides in her incredibly vast experience in running the SC enterprises. Her incredible tactics when it comes to calculations and her and fierce negotiation skills have helped her to prove that she is the sure bet for such a post and more