The rapper is reportedly seeking new investors for the non-live side of his Roc Nation business as the partners' ten-year 360 deal reaches its end
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With their 360 deal coming to an end next year, Live Nation has agreed a new arrangement to exclusively promote Jay Z's shows through 2028
By Jon Chapple on 12 May 2017
As expected, Jay Z has signed a new touring contract with Live Nation, giving the world’s largest promoter a decade-long extension on its exclusive deal to promote and produce his shows worldwide.
The two parties signed a US$150m, ten-year ‘360’ deal in 2008, creating a new joint venture, Roc Nation, comprising recording, management, publishing, concert promotion and TV/film production divisions. It emerged last month that Jay Z (Shawn Carter) was seeking new investors for the non-live side of the business, with Live Nation now solely interested in touring.
It is believed Carter (pictured) and Live Nation will remain equity partners in Roc Nation, with the latter making no mention of any change in the company’s structure when announcing the new deal, reportedly worth around $200 million.
“Live Nation and I entered unchartered territory in 2008,” says Carter. “Over nine years, we have travelled the world producing historic music experiences. [Live Nation CEO and president] 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 ten years, we will continue redefining the live event landscape”
“For the next ten years, we will continue redefining the live event landscape.”
“Jay Z is one of the world’s preeminent touring artists,” adds Rapino. “This strengthens the creative and business partnership of someone that continues to expand his touring base and reach.”
Jay Z has not toured since 2014’s On the Run tour, jointly headlined with wife Beyoncé, which made $109.7m and was the fifth highest-grossing of the year. He will, however, play several festivals this summer, including Meadows Festival, Austin City Limits and his own Made in America Festival.
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