Jay Z and Live Nation have signed an exclusive touring partnership for the next ten years.
The deal, which Variety is reporting to be worth $200 million, will extend Jay Z’s partnership with the live-entertainment company as they will produce and promote all of his live tour events until he is 57 years old.
“Live Nation and I entered unchartered territory in 2008,” Jay Z said in a statement. “Over nine years, we have traveled the world producing historic music experiences. [Live Nation president and chief executive officer] 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.”
“Jay Z is one of the world’s preeminent touring artists,” Rapino added. “This strengthens the creative and business partnership of someone that continues to expand his touring base and reach.”
While Jay Z has not put out much of his own music recently, his touring schedule is still strong, with four shows scheduled for September alone, meaning there will plenty for Live Nation, the world’s biggest live-entertainment company, to do.