As if Jay Z needed any other reason to prove his business acumen.
The mogul just singed an exclusive $200 million deal with Live Nation, which will see one of the biggest live-entertainment companies in the world producing and promoting Jay Z’s concerts and events. The 10 year deal will pair Live Nation with Jay Z until he is 57, and although his recording scheduled has somewhat diminished over the last few years, he still tours and performs fairly regularly. Currently, he has four shows scheduled in September, including his annual Made in America festival in Philadelphia Labor Day weekend.
In a statement, Jay Z said, “Live Nation and I entered unchartered territory in 2008. Over nine years, we have traveled the world producing historic music experiences. [Live Nation president and chief executive officer] 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.” Rapino 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.”
Live Nation and Madonna entered into a similar partnership in 2007, where the company signed the artist to an exclusive performance contract for $120 million.