A few weeks after launching Roc Nation sports agency, Mr. Carter has made another big move, this time with music.
Effective immediately, Roc Nation will be acting as a standalone label under Universal Music Group. This means that Jay-Z himself, as well as all other Roc Nation artists — from Rihanna to J. Cole — will release their albums through Universal Music.
Lucien Grainge, Chairman and CEO of UMG had the following to say:
“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 today’s 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.”
Jay-Z also released the following statement regarding the deal:
"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."
via Reuters
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