Jay-Z continues to make mega-moves with his Roc Nation empire.
Fresh from hitting headlines that the full-service entertainment force is venturing into the Sports world, it has today been announced that the company has teamed up with Universal Music to house the official Roc Nation record label.
Beyond literally being a big deal, some may be wondering why this is this such a “big deal”. Well, while the Roc manages and A&R’s the likes of Rihanna, Rita Ora, Timbaland, and Kylie Minogue, they -until now-have not operated as an actual record label. Indeed, each of the aforementioned acts sit under different (and in some cases, rival) corporate umbrellas.
With this latest development, Roc Nation truly becomes its own 360 entity. Put simply, it’s now its own Def Jam, RCA, Columbia, and presents exciting new prospects for music moving forward.
Check out the press release after the jump…
Universal Music Group (UMG), the world’s leading music company, and Roc Nation, the renowned entertainment company founded by Shawn “JAY Z” Carter, announced today that they have entered into a multi-year, worldwide partnership under which the Roc Nation music label will operate as a standalone label within the UMG family, effective immediately. Financial terms of the deal were not disclosed. As part of the agreement, forthcoming albums from JAY Z, Rihanna and many others will be released through UMG worldwide.
In making the announcement, 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 said, “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.”
Naturally, then, it begs the question of what happens to the Rihanna’s, Rita’s, and co. For, while some are already signed to other labels under the Universal Music umbrella (making any potential moves much easier..legally), others are housed on what are now “rival” labels.
In any case, exciting times certainly lay ahead. We already have a few established names in mind that we’d love to see side-step over to the Roc, as well as a host of new talent that would be well-suited there. Anyway, enough of our rambling…