By The Hip Hop Writer
Hip Hop Vibe Staff Writer
As much as he is known for his witty lyrics and classic albums, Jay-Z is known for his business acumen. Over the years, Jay-Z has made several deals and ran several companies, becoming hip hop’s envy along the way. But, most of Jay-Z’s success has come from the Universal Music Group.
In 1996, Jay-Z signed a deal with West Coast record label, Priority Records, for his record label, Roc-A-Fella Records. But, he would immediately leave this deal and enter a partnership with Def Jam, right when the Universal Music Group acquired it. Jay-Z would flourish on this platform, at one point running Def Jam.
Jay-Z left Universal Music Group in 2008 and he partnered with Live Nation for his new company, Roc Nation. The label/management company had a label deal with Sony and released Jay-Z’s last album on Atlantic Records. But, this is no longer the case, as Jay-Z is back in business with a new partnership with Universal.
Read the statements below:
Jay-Z’s statement:
“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.”
UMG’s statement:
“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.”
