2018 will mark the end of the ten-year deal that brought together Jay Z’s Roc Nation and Live Nation. The deal that was signed in 2008 is said to have been worth $150 million, meaning that it is still among the most lucrative deals within the global music industry. The deal involves music recording, with Live Nation owning artist’s rights. Many refer to the deal as the 360 Deal. Live Nation is not expected to renew the deal, with some claiming that the firm is considering quitting the recorded music business altogether. However, the good business relationship built over the last decade is not ending anytime soon. As indicated by Live Nation, not extending the 360 deal will usher in new and more lucrative deals between the company and Jay Z. Related article to read on pagesix.com.
As the curtains close on the 360 Deal, the focus now shifts to who will fit in Live Nation’s shoes. Roc Nation’s Tidal app requires funding to continue competing for a space in the music streaming sector that is largely dominated by Spotify and Apple. As such, Jay Z has been making contacts with the bigwigs in the industry, with the Universal Music Group strongly linked with striking a deal anytime soon. These speculations were fueled further by revelations that Desiree Perez, a top executive at Roc Nation, had accompanied Jay Z to meet UMG’s Sir Lucian Grainge at his office in Santa Monica.
To read more about her negotiations, click on this.
Apparently, it will not be the first time that UMG and Roc Nation do business together. The former manages a small stake in the in Roc Nation as of today, meaning that a new deal will be more of raising the stake. The top management at UMG is yet to comment on the prospective deal, but sources indicate that the firm is keen on owning a bigger stake in the fast-growing music firm.
As the leading negotiator for Roc Nation, Desiree Perez has cut a name for herself in the music industry. She is part and parcel of the Hova Circle of influence together with her lover, and Jay Z. Desiree is the executive attributed to the sealing of Rihanna’s Samsung deal. check hitsdailydouble.com
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