UMG Strikes Global Partnership With Jay-Z's Roc Nation
April 8, 2013 at 7:50 AM (PT)
UNIVERSAL MUSIC GROUP and ROC NATION, founded by SHAWN "JAY-Z" CARTER, have entered into a multi-year, worldwide partnership under which the ROC NATION music label will operate as a standalone label within the UMG family, effective immediately. Financial terms of the deal were not disclosed. As part of the agreement, forthcoming albums from JAY-Z, RIHANNA and many others will be released through UMG worldwide.
In making the announcement, UMG Chairman/CEO LUCIAN GRAINGE said, "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. 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."
SHAWN "JAY-Z" CARTER said, "We are looking forward to working with LUCIAN and the incredible team he’s assembled at UNIVERSAL. We would like to applaud LUCIAN for collaborating with us to strike a new age deal. 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. I look forward to a long and prosperous collaboration with UMG. It feels good to be home."