To say that Jay Z has built an empire with Roc Nation over the past decade would be an understatement. To ignore the effect of his ten year contract, worth $150 million, with Live Nation would be negligent. Jay Z has spent the past ten years, fueled by the 360 Deal he signed with Live Nation, in order to cement himself as one of the world’s foremost self made moguls. Of course, a high profile marriage with Beyonce doesn’t hurt anything either. Now, Jay Z and his team of executives, including Desiree Perez, are pondering the future in the wake of the expiration of their deal with Live Nation.
The musical industry has changed over the past decade in a few ways that nobody could have predicted. For starters, there has been a real movement away from the value of recorded music. Live Nation understands this and it appears to be a huge sticking point between Desiree Perez/Jay Z and the Live Nation team. Live Nation, according to an insider, “Is not in the business of buying recorded music any more.” This is obviously an issue but it might not be a deal breaker, at least not unless Jay Z and Desiree Perez find a better offer.
Speaking of better offers, Desiree Perez and Jay Z had a quick sit down lunch with the chairman and CEO of Universal Music Group this past summer. Sir Lucian Grainge hosted Perez and Jay Z for a lunch and it can only be assumed that they talked business with the upcoming deal falling through at Live Nation. Perez, who has been working with Jay Z for decades, would only be included in this meeting if something momentous was being discussed. Now the world has to wait in order to see the outcome.