Jay Z’s ten year deal with Live Nation is about to end. The $150 million deal ends in 2018 after it was signed in 2008. The contract saw Live Nation buying into artist’s rights and recorded music. According to speculations, Live Nation is no longer interested in buying recorded music, and this relationship with Roc Nation is likely to be terminated next year. Jay Z has asked investors in the music industry to join forces and support Roc Nation. Together with Roc Nation’s Executive Desiree Perez, Jay Z held a meeting with Universal Music Group’s chairman Sir Lucian Grainge at his office in Santa Monica, California.
UMG’s move to buy a stake in Jay Z’s recording music business will give him more empowerment to grow new artists. At the moment, UMG already has a distribution deal with Jay Z, but it is a relatively small percentage of Roc Nation. Investing more in the business will give them larger stakes of Roc Nation’s artists. Roc Nation has signed renowned artists like Rihanna, Shakira, Jay, Fat Joe and Meek Mill.
About Desiree Perez
Desiree Perez is the Chief Operating Officer of Roc Nation. Ever since she took the position in 2009, she has been providing services such as labeling operations, publishing, and management. Desire Perez thrives well in accounting and negotiating. Her negotiation skills have proved to be beneficial to Roc Nation as she can close deals with organizations and sign contracts with both established and newbie artists. She was at the forefront of negotiating Rihanna’s deal with Samsung.
Desiree Perez is also part of Roc Nation’s inner circle known as Hova Circle of Influence. The group is composed of other members such as Ty Ty Smith, Jana Fleischman, Jay Brown and Chaka Pilgrim. As the chief operating officer, Desiree Perez is indeed the backbone of Roc Nation’s success.
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