Jay-Z's hip hop prowess, music longevity, and power of making money, not just for himself, but also for the people around him, is about to heighten his bank account even more. The music mogul has partnered with Warner/Chappell Music, the publishing arm of Warner Music Group, to administer the copyrights of both his own songs and acts signed to his Roc Nation publishing roster.
According to Forbes, the partnership will see Warner/Chappell caring for Jay-Z’s catalog stretching back to 2008, and by the end of 2013, the company would assume administrative rights over his earlier recordings. The publisher will also administer copyrights for Roc Nation's top songwriters, including Philip Lawrence (co-writer of Bruno Mars’ “Grenade” and “Locked Out of Heaven”) and S1 (co-writer of Kanye West’s “Power” and Beyoncé’s “Best Thing I Never Had”).
Jay-Z's dealings with Warner/Chappell is due to his close friendship with publishing executive Jon Platt, who left EMI Music Publishing for Warner last year. The two has been working together since Jay-Z's 1996 debut album, Reasonable Doubt.
“The real meaning of success is being in the position to work with an individual you consider a friend,” Jay-Z said in a statement. “Jon Platt is such a person. He’s a man of extraordinary character as well as a remarkably talented executive with an ear for music and an eye for talent. It’s great to watch him grow to be one the best in the business.”
“I couldn’t be happier to continue my relationships with Jay and Roc Nation and build on our partnerships at Warner/Chappell," adds Platt. "We have the global expertise and resources to deliver new opportunities for their amazing catalogs, while helping them reach new heights of success around the world.”
In addition to making a lot more money from his publishing, Jay-Z will own his Masters at the end of 2014. According to Forbes, the hip hop icon negotiated the ownership rights as a part of his deal to become Def Jam's President back in 2004. The agreement had a 10 year wait clause and will expire at the end of 2014, giving Jigga full ownership.
How much of a smart move was that!?! This move will definitely keep him in the top spot as the richest person in hip hop.
Also, Forbes reports that Beyonce, Jay-Z's wife, may also move her publishing to Warner/Chappell.