It’s official. Jay Z and Live Nation have renewed their partnership with a new 10-year worldwide touring deal. Though financial records have not been released, Billboard reports that the deal is worth $200 million.
In 2008, Hov signed a 360-deal with Live Nation that helped him launch Roc Nation. That deal was worth $150 million and included musical albums, publishing, and more. This new deal, however, only focuses on touring, as previously reported.
“Live Nation and I entered unchartered territory in 2008,” said Jay Z. “Over nine years, we have traveled the world producing historic music experiences. [Live Nation CEO] Michael Rapino is an industry visionary, and this renewed partnership is a testament to our longstanding relationship and the talented individuals at Live Nation. For the next 10 years, we will continue redefining the live event landscape.”
Rapino added: “Jay Z is one of the world’s preeminent touring artists. This strengthens the creative and business partnership of someone that continues to expand his touring base and reach.”
For many, this is yet another sign of a Jay Z comeback. Although he hasn’t released an album in four years, Jigga has announced headlining sets at Made in America, Meadows, and Austin City Limits this year.
Rumors of a new Jay Z album — including a joint project with Beyoncé — have been circulating for years, more intensely within the past few months. Just last week, Swizz Beatz seemed to tease as much, when he wrote “Album ModeZone” under a picture of Hov. If he does release a new LP, it will be Jay Z’s first since 2013’s Magna Carta…Holy Grail.