Jay-Z To Ink $150 Million Deal With Live Nation

According to The New York Times, Jay-Z is set to leave current label Def Jam to sign a deal with concert promoter Live Nation for a whopping $150 Million. The package deal would see Live Nation finance the mogul’s own entertainment venture, as well as future recording and tours for the next 10 years.

The venture, which will reportedly be called Roc Nation, will split profits with Live Nation. Jay will release a minimum of three albums during the deal’s decade long duration – receiving a $10 million advance per album.

Jay’s deal, which is expected to be finalized sometime this week, would be the most expensive (and expansive) agreement the concert promoter have secured thus far. Within the last 6 months, Live Nation have signed both Madonna and rockers U2 to similar ‘360’ deals for $120 Million a piece.

This news comes on the heels of Jay’s standing down as President of Def Jam last December, following the breakdown of negotiations for a more lucrative deal. Jay’s final Def Jam release is slated to drop before the end of the year.

I’m not sure about this. Not hating or anything, but I keep asking myself: is 2008 Jay-Z really worth that much? The moderate sales of his last couple of releases (in comparison to his past LP’s) kinda suggest he’s not. What’s more, these increasingly popular ‘360 deals’ seem kinda risque to me. One only has to look at the amount of artists, who at some point in their careers, have been unhappy with their label; so I can only imagine the drama that would ensue should one of these type of deals turn sour – as the artist would have signed over literally everything – music, tours, merchandising…the lot. Saying that, I can’t knock Jay’s hustle.