Jay Z has re-upped with Live Nation on a new 10-year touring deal, worth a reported $200 million, says Billboard.
In the deal, Live Nation will serve as the producer and promoter of any of Jay’s worldwide tours over the next decade.
The new deal comes as their initial 10-year agreement, which was signed in 2008, neared conclusion. The report says the original agreement was a 360-deal, worth $150 million. It covered three albums, publishing and other assets, as well as the launch of Roc Nation as a joint venture.
This new deal is focused solely on touring, reports Billboard. However, Jay and Live Nation will remain equity partners in Roc Nation moving forward.
“Live Nation and I entered unchartered territory in 2008,” noted Jay in a statement. “Over nine years, we have traveled the world producing historic music experiences. 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.”