Universal Music Group (UMG), the world’s leading music company, and Roc Nation, the entertainment company founded by Shawn “Jay-Z” Carter, announced today that they have entered into a multi-year, worldwide partnership. Under terms of the agreement, the Roc Nation music label will operate as a standalone label within the UMG family.
Financial terms of the deal were not disclosed but the global partnership is effective immediately. This agreement will allow upcoming albums from such global superstars as Jay-Z and Rihanna to be released through UMG worldwide.
Roc Nation is a full-service entertainment company, with a diverse group of writers and producers including Rihanna, Shakira, Rita Ora, Calvin Haris and deadmau5.
“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,” said Lucian Grainge, Chairman and CEO ofÂ UMG. “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 said both he and Roc Nation are looking forward to working with Lucian and Universial Music Group.
“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,” he added. “It feels good to be home.”