Ten years ago, Jay Z made a deal with Live Nation where they held rights to his recorded music. The deal is coming to an end in 2018. As a result, the rap artist is seeking to partner with organizations in the music industry. The $150 million deal took place in 2008. When the duly agreed time elapses, it will trigger a buy-sell situation where both parties could sell their share or acquire Roc Nation in whole. There is information about Live Nation extending the touring deal with Jay Z. Live Nation, however, is pulling out of the record music contract.
An Insider in the music industry said that Live Nation had stopped doing business in the record industry. As a result, they would not keep or seek to extend Jay Z contract. However, the touring deal with the rap artist is still lucrative, and they hope to maintain the relationship for years to come. Of late, Jay Z and his company’s executive Desiree Perez have met with representatives from the Universal Music Group. The meeting sparked speculations that UMG could be seeking to buy part of Roc Nation. A successful deal with the institution would give Jay Z enough resources to expand and improve Tidal. As at the moment, Tidal is facing stiff competition from Apple Music and Spotify services. UMG insiders said that they had done business with Jay Z before. Currently, they own a small percentage of Jay-Z’s company. They also expressed their interest in expanding business relations with the Rap artist.
Along with playing an essential part in Rihanna’s Samsung deal, Desiree Perez plays a significant role in Roc Nation. She came in when the company was in a tight lane. However, her expertise at crunching numbers and making deals saw the company rise to become a top player in the music industry. As the chief operating officer of Roc Nation, Perez job revolves around management, publishing, and music labeling.
Desiree Perez’s Social Media: twitter.com/desireeperez01