In 2008, Jay Z signed a blockbuster 150 million dollar deal with live nation. The deal established a business relationship between Live Nation and Jay Z’s Roc Nation that has proven beneficial and profitable for each party. The 360 deal comes to an end in 2018, after 10 years, and Jay and his business partner, Desiree Perez, look to make moves to cash in.
Jay Z has been a staple in the music industry for many years now. The hip hop mogul founded Roc Nation, not only to showcase his dynamic music, but also to represent other artists. Some of the artist currently on the Roc Nation roster include Jay, Meek Mill, Fat Joe, Shakira, and Rihanna.
The initial deal included a buy in on both recorded music and touring. Sources have indicated that Live Nation wants to step away from the recorded music aspect of the deal, but maintain their relationship with Roc Nation in terms of touring which has been lucrative for Live Nation.
Taking a proactive active approach to the upcoming end of the deal, Jay and Desiree recently met with Sir Lucian Grainge, the chairman and CEO of Universal Music Group. It is speculated that UMG could purchase a stake in Roc Nation. UMG currently has a distribution deal with Roc Nation which covers a small percentage of their. Acquiring a bigger state in Roc Nation would significantly increase this percentage, as well as, provide Jay Z with greater resources to develop new artist.
Desiree Perez, also known as Dez, has had a 20 year business relationship with Jay Z. In that time, she has proven herself highly capable in helping to steer all aspects of Roc Nation. She is known to be highly efficient with numbers and a staunch negotiator, as she demonstrated in playing her part to land the Rihanna Samsung deal.