Jay Z keeps busy and in his latest business move, he has extended his relationship with Live Nation.
Billboard reports Jay and Live Nation have signed a new ten year deal that will cover worldwide touring, with Live Nation as producer and promoter. While the numbers weren’t released, sources told Billboard that the deal is estimated at $200 million.
The previous deal between Jay and Live Nation was a bit more intricate, “a 360-deal worth $150 million that covered three albums, publishing and other assets and helped launch Roc Nation as a joint venture between the two,” as Billboard reports, but the new deal will focus on just touring. Jay and Live Nation will remain equity partners in Roc Nation.
“Live Nation and I entered unchartered territory in 2008,” Jay said in a statement. “Over nine years, we have traveled the world producing historic music experiences. Michael Rapino is an industry visionary, and this renewed partnership is a testament to our longstanding relationship and the talented individuals at Live Nation. For the next 10 years, we will continue redefining the live event landscape.”
This news comes just as Jay announced headlining performances at three music festivals this summer, and on the heels of Swizz Beatz teasing that Jay is in “album mode,” leaving fans wondering if new music is on the way.
We will update you on Hov’s latest business ventures and any new album developments here.
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