The $200 million deal extends the pairs lengthy relationship
Shawn “Jay Z” Carter and Live Nation have signed an exclusive touring partnership that extends their relationship by ten years. The deal includes worldwide touring, in which Live Nation will produce and promote Jay Z concert events. Despite financial details not being revealed, sources tell Billboard the deal is worth $200 million.
“Live Nation and I entered unchartered territory in 2008. Over nine years, we have traveled the world producing historic music experiences,” states Jay Z. “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.”
“JAY Z is one of the world’s preeminent touring artists,” adds Michael Rapino, president and chief executive officer, Live Nation Entertainment. “This strengthens the creative and business partnership of someone that continues to expand his touring base and reach.”
The deal includes touring only as his previous ten year agreement, signed in 2008, was a 360-deal worth $150 million. The original deal included thre albums, publishing and other assets that Billboard claims helped launch Roc Nation as a joint venture between the rapper and promoter.
Author: Buddy Iahn
Buddy Iahn founded The Music Universe when he decided to juxtapose his love of web design and music. As a lifelong drummer, he decided to take a hiatus from playing music to report it. The website began as a fun project in 2013 to one of the top independent news sites.