In 2008 Jay Z signed a ten-year contract worth $150 million with the music company, Live Nation. Live Nation teamed up with Roc Nation in order to help develop the roster of talent, spearheaded by Jay Z, into one of the preeminent musical brands in all of hip hop. Roc Nation represents a slew of A-List talent including Jay Z, Rihanna, Meek Mill and Shakira. Now, a decade later, Jay Z and his team are looking at either renegotiating their contract with Live Nation or stepping away entirely in order to pursue a new deal with another company. With the music industry completely changed over the past decade, Roc Nation has to seriously assess their options.
Roc Nation has been one of the most prominent musical labels in the game thanks to Jay’s competent leadership and the team he has assembled, including the addition of Desiree Perez. Perez is a longtime Roc Nation association who has found a ton of collaborative success helping to bring up the career of Rihanna. Perez and Jay Z were spotted out in Santa Monica, California on a lunch date with Sir Lucian Grainge, the CEO of Universal Music Group. This particular meeting may hold massive ramifications for the future of the company if a deal is actually made between the two parties.
Live Nation also has reasons to want to re-sign Live Nation as well as to walk away. Live Nation realizes that the industry has turned away from recorded music and that now major profits are to be found in the live experience. Live Nation has to come to terms with this change and assess whether Jay Z and Desiree Perez would be willing to let go of that aspect of their industry. Until a new deal is made, everything is up in the air for the teams and more