Jay-Z continues to make huge business moves as he aligns Roc Nation with Universal Music Group in a multi-year deal.
In a press release sent out this morning, Jay-Z gave a statement on his latest deal saying that the new partnership will allow Roc Nation to continue to operate as an independent label with the strength of a major:
We are looking forward to working with Lucian and the incredible team he’s assembled at Universal. We would like to applaud Lucian for collaborating with us to strike a new age deal. 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.
View the full press release, via Reuters, below:
SANTA MONICA, Calif. and NEW YORK, April 8, 2013 /PRNewswire/ — Universal
Music Group (UMG), the world’s leading music company, and Roc Nation, the
renowned entertainment company founded by Shawn “JAY Z” Carter, announced today
that they have entered into a multi-year, worldwide partnership under which the
Roc Nation music label will operate as a standalone label within the UMG family,
effective immediately. Financial terms of the deal were not disclosed. As part
of the agreement, forthcoming albums from JAY Z, Rihanna and many others will be
released through UMG worldwide.
In making the announcement, Lucian Grainge, Chairman and CEO of UMG, said, “In
just five years, Roc Nation has established itself as one of the most successful
brands in music with a reputation for developing some of today¹s most
influential and popular talent. Not only does this agreement provide a dynamic
platform for Roc Nation’s exciting emerging artists, it extends our relationship
with the extraordinary Rihanna and represents a homecoming for JAY Z-a brilliant
artist and entrepreneur, who has been a creative cornerstone of our company.
All of us at UMG are thrilled that JAY and Roc Nation chose UMG as their
partners, knowing we will support their artists with a level of resources,
expertise and passion that is simply unmatched in the industry.”
Shawn “JAY Z” Carter said, “We are looking forward to working with Lucian and
the incredible team he’s assembled at Universal. We would like to applaud
Lucian for collaborating with us to strike a new age deal. 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.”
ABOUT ROC NATION
Founded in 2008, Roc Nation is a full-service entertainment company, inclusive
of artist, songwriter, producer and engineer management; music publishing;
touring & merchandising; film & television; new business ventures; and a music
label. It is home to a diverse roster comprised of critically acclaimed
recording artists, writers and producers including Rihanna, Shakira, J Cole,
Rita Ora, Calvin Harris, NO ID, Timbaland, Solange, M.I.A., Santigold, deadmau5,
Wale, etc. Roc Nation has partnerships with award winning production team
Stargate in Star Roc as well as global management company, Three Six Zero.
ABOUT UNIVERSAL MUSIC GROUP
Universal Music Group is the global music leader, with wholly owned operations
in 60 territories. Its businesses also include Universal Music Publishing Group,
one of the industry’s premier music publishing operations worldwide. Universal
Music Group’s record labels include A&M/Octone, Angel, Astralwerks, Blue Note,
Capitol Records, Decca, Def Jam Recordings, Deutsche Grammophon, Disa, Emarcy,
Fonovisa, Geffen Records, Interscope Records, I.R.S., Island Records, Lost
Highway Records, Machete Music, Manhattan, MCA Nashville, Mercury Nashville,
Mercury Records, Motown Records, Polydor Records, Republic Records, Universal
Music Latino, Verve Music Group and Virgin Records, as well as a multitude of
record labels owned or distributed by its record company subsidiaries around the
world. The Universal Music Group owns the most extensive catalogue of music in
the industry, which includes the last 100 years of the world’s most popular
artists and their recordings. UMG’s catalogue is marketed through two distinct
divisions, Universal Music Enterprises (in the U.S.) and Universal Strategic
Marketing (outside the U.S.). Universal Music Group also includes Global Digital
Business, its new media and technologies division and Bravado, its merchandising
Universal Music Group is a fully owned subsidiary of Vivendi.
SOURCE Universal Music Group
As part of the deal, both Jay-Z and Rihanna’s upcoming albums will be released through the Universal Music Group/Roc Nation partnership.