Jay Z and Live Nation have been close partners throughout the years and now they are taking it one step further by announcing a new touring partnership that will carry on for another decade.
Variety reports that Hov has joined forces with the biggest live entertainment company which will see Live Nation exclusively producing and promoting Jay Z concert events until he is 57 years old. The deal is rumored to be worth $200 million. Jay hasn’t released an album since 2013’s Magna Carta Holy Grail but seeing that he has four shows already announced for later this year, including his own annual Made in America festival in Philadelphia over Labor Day weekend, fans are expecting him to put out new music.
“Live Nation and I entered unchartered territory in 2008,” Jay Z said in a statement. “Over nine years, we have traveled the world producing historic music experiences. [Live Nation president and chief executive officer] 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 10 years, we will continue redefining the live event landscape.”
“Jay Z is one of the world’s preeminent touring artists,” Rapino added. “This strengthens the creative and business partnership of someone that continues to expand his touring base and reach.”