Archive for the ‘clear channel’ Category
Jay-Z also got rich today…
Right,I’m going to keep this short – a couple of days ago Jay-Z announced that he had just signed a 360 degree deal with ArtistNation (see LiveNation or Clear Channel – they’re one and the same) for a rather nice $150 million with a sweet $25 million up front. Fair fucks to him as far as I’m concerned – if someone can sign that kind of deal and pull it off, go for it!!
However, I can’t remember very clearly that only three months ago he said that he was not in favour of 360 degree deals. It’s strange what a 150 million little things can do to change someone’s mind. Anyway, this is what he said to Gail Mitchell of Billboard.com in December:
“…I believe that 360 becomes a bad deal unless you’re doing artist development. You could make a 360 deal with an artist and maybe you don’t have that artist two years from now. We can’t — as record executives — expect to take someone’s rights and not add value. If we’re adding value, it’s a partnership. If we’re not, then we’re just trying to find another way to make up for the money being lost on the Internet. And that’s not cool…”
(Billboard.com, December 14th 2007)
Thus, ArtistNation now have rights over his recordings, merchandise, live tours, his website and a number of other things. ArtistNation also have an option on the artists’ publishing, licensing and sub-licensing rights for a further $20 million. The deal also includes an investment by Live Nation into Jay-Z’s entertainment venture which is to called Roc Nation. Jay-Z commented to the Associated Press that “I’ve turned into the Rolling Stones of hip-hop“.
The artist owes one more album to Def Jam before the ArtistNation deal can commence. This deal is set to last 10 years.
Current listening:
Horace Andy “The King Tubby Tapes”
Sweet,
Leigh
