Earlier this week, Jay-Z announced that his new album, Magna Carta Holy Grail, will be released on July 4th for 1 million Samsung Galaxy users through a specialized app, and July 7th for everyone else.
According to reports, Samsung purchased a million copies of the album up front to give away through their app. It was revealed that each copy was purchased for $5, giving Hov a $5 Million profit off an album that hasn’t even released yet.
At the time of the initial report, it was believed since Samsung bought a million copies, that Jay’s new album would be platinum before its official release date, but the folks at Nielsen Soundscan say that it won’t go down that way.
According to MTV News, Billboard does not count bulk album sales, and the RIAA says that albums only can become eligible for RIAA certification 30 days after the initial release of an album.
On top of Billboard’s and RIAA’s rules for a certified album, another factor is that albums must be sold by a label/artist/music company to a retailer (such as Target, Best Buy, Amazon or Samsung) at a minimum of one-third of the album’s Suggested Retail Price. As noted above, Samsung paid $5 a piece for each Jay-Z album, and as of this time it is unclear what the Suggested Retail Price of the album will be.
Although Hov’s Magna Carta will not be considered platinum when it first releases, after 30 days pass, Jay and the label can choose to apply for certification and the RIAA’s auditors will go over the data to determine if the album any is eligible for any certification.
After receiving the news of Billboard’s and the RIAA’s certification rules, Jay took to Twitter and addressed the issue.
View the tweet from Jay-Z below:
Also noted by MTV News, Hov’s label, Universal Music Group, is reportedly still negotiating in an effort to get the Samsung sales counted.
If you missed it, you can view Jay-Z’s announcement of Magna Carta Holy Grail, and get complete details on the release, below.
JAY Z’s new album “Magna Carta Holy Grail” comes to Samsung Galaxy fans first. Be among the first million to download the app on June 24th and get the album free July 4th, three days before the rest of the world.
For more details on the album release, and to download the Samsung app visit MagnaCartaHolyGrail.com [here].