Jay-Z’s Roc Nation Inks With Universal Music Group
Another power move for Jay Z. Roc Nation is officially on the move as Jay-Z is taking Roc Nation over to Universal Music. The Roc Nation label will remain independent but releases for it’s artists such as J.Cole, Rihanna and even Jigga man himself will be released through Universal.
From Wall Street Journal:
The move is a return to Universal for Mr. Carter, 43 years old, who served as president of Universal’s Island Def Jam Music Group—in addition to being one of the label’s recording artists—from 2004 until late 2007 when his contract to do so expired.
Shortly after departing from Universal, Mr. Carter joined forces with concert promoter Live Nation to launch Roc Nation—an entertainment company that includes the Roc Nation music label as well as management, publishing, merchandising and other business ventures.
To release Roc Nation records, Mr. Carter struck distribution deals with both Warner Music Group’s Atlantic Records and Sony Music Entertainment. As those deals approached expiration, the competition among the industry’s big labels over Roc Nation became fierce, according to a person familiar with the matter.
Here are Jay Z’s thought on signing with Universal Music Group:
“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.”