For the past decade Jay Z has been cementing himself as one of the most influential and productive business moguls in the music industry. The reason? His 10 year, $150 million contract with the Live Nation company. At the time this vaunted ‘360 Deal’ was considered almost too good to be true. The deal established Jay Z in the industry and give him a chance to expand his empire. However, 2018 marks a buy-sell moment where Live Nation or Jay Z could decide to opt out of their contract entirely. Does this mean that Jay Z and Roc Nation are on the move? Well, if you take Desiree Perez’s presence at a lunch with Universal Music Group, you might be right.
Desiree Perez is a longtime associate of Jay Z and one of the most influential employees at the Roc Nation company. Perez and Jay Z have been working together for over a decade now and Perez is routinely brought on board to help make leading decisions. With Live Nation’s deal set to expire next year, a sit-down lunch with Sir Lucian Grainge of Universal Music Group was particularly interesting. Perez and Jay Z met up with the Chief Executive Officer while on a trip to California. The meeting has yet to yield any fruitful details but there are rumors going around that Roc Nation might be turning their attention to a full time partnership with UMG.
Live Nation is still in the race to retain Roc Nation as a client but that might not happen. Live Nation reportedly wants to step away from the recording side of things and focus instead on their attachment to Jay and Roc Nation’s live shows. Live Nation and Jay Z are yet to formally announce real status update on their relationship with one another at this point.
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