Jay-Z continues to make major moves with his Roc Nation Empire. Merely a week after making mention about the new sports representation agency, Roc Nation Sports, it is announced that Jay-Z will make a return to Universal Music, the world’s largest music company with a new multi-year deal.
Last month, Warner’s Warner/Chappell publishing department had scored the publishing rights to Jay Z’s Roc Nation artists’ works. The financial aspect of the new deal with Universal haven’t been disclosed, but according to the statement released, Roc Nation will serve a “standalone label” under Universal Music group.
Jay-Z was earlier the President of and a recording artist under Universal’s Island Def Jam Music Group from 2004 to 2007. Here’s what Mr. Carter says about the return:
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.
With this latest development, Roc Nation truly becomes its own 360 entity. In simple terms, it’s now its own Def Jam, RCA, Columbia, and presents exciting new prospects for music moving forward.
Lucian Grainge, Chairman and CEO of UMG, said,
“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.”
Shawn “JAY Z” Carter adds,
“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.”