Days after Forbes placed Jay Z near the no. 1 spot of its top earners in hip-hop, the rapper/mogul has landed another blockbuster deal with Live Nation.
Variety reports that Jay Z and Live Nation have announced an exclusive 10-year touring partnership, continuing their relationship that has lasted since 2008. That means Jay would be under the contract until he's 57 years old, with Live Nation producing and promoting his concerts. Variety says the deal is worth $200 million.
Jay has four shows including Made In America and the Meadows Music & Arts Festival scheduled for September, which built speculation that the rap legend would be releasing a new album soon - the follow-up to his twelfth studio LP Magna Carta... Holy Grail in 2013. This announcement seems to show that Jay isn't hanging up the mic anytime soon.
“Live Nation and I entered unchartered territory in 2008,” Jay Z said in a statement. “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.”
“Jay Z is one of the world’s preeminent touring artists,” Rapino said. “This strengthens the creative and business partnership of someone that continues to expand his touring base and reach.”