Jay-Z, who is taking away his entire catalogue away from Spotify, recently signed a 10 year worldwide touring deal with Live Nation for $200 million.
This new agreement starting as the old agreement, that was signed in 2008, comes to an end. As reported by Billboard, that deal included a worth of $150 million that included three albums and had a collaboration with Roc Nation as a joint venture.
According to FactMag, Jay-Z released a statement saying “Live Nation and I entered unchartered territory in 2008. Over 9 years, we have traveled the world producing historic music experiences. 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.”
In response Michael Rapino, the president and chief executive officer of Live Nation Entertainment, added “JAY Z is one of the world’s preeminent touring artists. This strengthens the creative and business partnership of someone that continues to expand his touring base and reach.”
This agreement has not included any type of recorded music. Only the touring has been a part of this deal.
(Photo Credit: Sharon Alagna)