Jay-Z will make a return to Universal Music, the world’s largest music company with a new multiyear deal that also includes other artists on his Roc Nation imprint like Rihanna, J. Cole and Shakira. This comes only a week after announcing the sports representation agency, Roc Nation sports.
Last month, Warner’s Warner/Chappell publishing department had scored the publishing rights to Jay Z’s his Roc Nation artists’ works. The financial aspect of the new deal with Universal haven’t been disclosed but according to the statement released, Roc Nation will serve a “standalone label” under Universal Music group.
Jay-Z was earlier the President of and a recoding artist under Universal’s Island Def Jam Music Group from 2004 to 2007. Here’s what Mr. Carter says about the return:
“This agreement presents a unique opportunity for Roc Nation’s artists—being able to continue to operate as an independent label with the strength, power and reach of the best major. I look forward to a long and prosperous collaboration with UMG. It feels good to be home.”
Via WSJ
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