Tag: Roc Nation

Jay Z Reportedly Expands Empire with Launch of Marcy Venture Partners, a New Investment Firm in CA

Jay-Z performs on stage during the “On the Run II” tour opener at Principality Stadium on June 6, 2018 in Cardiff, Wales. (Photo by Kevin Mazur/Getty Images For Parkwood Entertainment)

by Michelle Darrisaw via essence.com

Jay Z is adding venture capitalist to his burgeoning resumé.

The rapper-entrepreneur, who is currently on a global tour with his wife, Beyoncé, reportedly filed paperwork in the state of California last month to launch an investment firm. The news of the venture fund comes just one week after the legendary rapper and  Beyoncé surprised fans with a joint album called Everything Is Love.

According to Business Insider, Jay Z is creating a fund called Marcy Venture Partners, which could be an ode to Marcy Houses, the Brooklyn housing projects he grew up in as a kid. In addition to Jay Z, Walden Venture Capital’s managing director, Lawrence Marcus, and Roc Nation’s president, Jay Brown, will also spearhead the founding venture capital firm.

However, this isn’t the first time the “Marcy Me” rapper hedged his bets in Silicon Valley. In 2017, he immersed himself in the venture capital world by launching investment platform Arrive to aid start-ups and businesses with branding support.

Notably, Jay Z’s angel investments also include funding for luggage company Away, premium sock company Stance, the stock-trading app Robinhood and private-jet company JetSmarter.

By adding more investment opportunities to his business repertoire, it looks like the hip-hop mogul, who, per Forbes, has a net worth of $900 million, is well on his way to becoming “the next Black Bill Gates in the making.”

Source: https://www.essence.com/celebrity/jay-z-launches-new-investment-firm-marcy-venture-partners

Jay Z’s TIDAL Adding Exclusive Drama & Comedy Shows to Service

Jay Z At Tidal
Jay Z at Tidal (photo via theurbandaily.com)

Jay Z’s music streaming service TIDAL is expanding its content beyond just music, according to exclusive reports on Variety.

Today (November 3), a new show titled “No Small Talk” is set to premiere on the service. The comedy, which will initially include five, 25-30 minute episodes, is hosted by DJ Cipha Sounds, who himself is signed to the management arm of Jay Z’s Roc Nation. Each episode is set to detail the lives of three burgeoning comedians performing at Manhattan’s Comedy Cellar.

“I didn’t want it to feel polished like the standup specials you see on TV,” Cipha Sounds says. “My goal is to help new guys get known, like Def Comedy Jam set up a lot of people’s careers.”

Elsewhere, TIDAL has ordered the second season of “Money & Violence,” an urban drama based on the lives of a group of thieves and drug dealers in Flatbush, Brooklyn. The second season, which is scheduled to premiere in January, is set to be comprised of 12 episodes and will be available exclusively on TIDAL for one week prior to wider distribution, Variety reports.

This change in strategy is part of TIDAL’s next step forward to increase value to its subscribers, Tim Riley, TIDAL’s Senior VP of Artist and Label Relations, said.

“If someone is paying for Tidal, we want that to be the best experience they can have,” Riley said.

article by Henry Mansell via theurbandaily.com

Jon Platt Named CEO of Warner/Chappell Music

Jon Platt 2015
Jon Platt speaks onstage at the 2015 SESAC Pop Music Awards at New York Public Library on May 4, 2015 in New York City. (Johnny Nunez/Getty Images for SESAC) 

Jon Platt will lead Warner/Chappell Music going forward.  As part of a transition plan, Platt, who joined Warner/Chappell in 2012, will be promoted to the company’s CEO on Nov. 1 from his current position as president, North America. Subsequently, in May 2016 (most likely when Cameron Strang’s contract ends), Cameron Strang, currently chairman & CEO, will step down to devote his full focus to serving as chairman & CEO of Warner Bros. Records.

Platt is known for being a doubled-edged sword, having great creative skills combined with top-notch leadership. On the creative side, he has helped attract such artists and songwriters as Jay Z, BeyoncéVance Joy and Echosmith to Warner/Chappell.

“Jon has a deep understanding of the creative process, an outstanding devotion to songs and songwriters, and an innate ability to nurture the next generation of talented publishing executives,” Warner Music Group CEO Steve Cooper said in a statement. “His combination of artistic sensibility and commercial savvy is very rare, and is clearly why so many of the world’s greatest songwriters want him as their partner and champion.” Cooper added that Platt will enhance Warner/Chappell’s “position” as the best home for songwiters.

Over the last five years, Warner/Chappell’s revenues have steadily declined, from $582 million for the year ended Sept. 30, 2009 to $503 million for the year ended Sept. 30, 2013, before rebounding last year to $517 million. In the first nine months of this year, Warner/Chappell revenue stands at $359 million, down from $387 million, or 7.2 percent.

Platt’s ability to attract top flight songwriters should help boost the company’s bottom line. Over the last several years, Warner/Chappell has added such songwriters as Pharrell Williams’ pre-2010 repertoire, Taio Cruz, Aloe Blacc, Sean Douglas, Belly, Mano, Julia Michaels, Steve Kipner, Nico & Vinz, Slash, Dave Mustaine, Mike WiLL Made It, Lady Antebellum, Liz Rose, and Lee Miller, as well as the Roc Nation publishing catalog.

“Ever since Jon came on board in 2012, he has played a pivotal role in our success story, making enormous contributions to the company’s rapid development,” Strang said in a statement.”Warner/Chappell is now ready for the next phase of its ongoing evolution, and Jon is exactly the right executive for the job. He is a force of nature: a brilliant creative collaborator; a principled leader; and an inspiring mentor. He will be a terrific CEO, as he brings his dynamism and expertise to our songwriters, teams and business around the world.”

Cooper added that “with a smooth transition underway at Warner/Chappell, Cameron will lead our plan to build on [Warner Bros. Records] existing success, turbocharge its long-term growth and deepen our commitment to A&R and artist development.”

Prior to joining Warner/Chappell Platt, who received SESAC’s Visionary Award in May, spent 17 years at EMI Music Publishing, where he signed an early-career Jay Z, Kanye West, Usher, Drake, Ludacris, Mary Mary, Young Jeezy, Fabolousand Snoop Dogg, according to Warner/Chappell’s announcement.

“Warner/Chappell is an iconic music company with an incomparable roster of extraordinary songwriters,” Platt said in a statement. “Our mission is to develop, grow, reward and sustain a prosperous and healthy creative community — the community of songwriters who make it possible for music to have such a special place in all of our lives. My vision for Warner/Chappell is one of peerless commitment to the songwriter and unmatched advocacy for the value of music.  I see us leading the industry in our service not only to our songwriters, but also to the partners and fans that help make their livelihoods possible.”

article by Ed Christman via billboard.com

Jay Z Buys Armand de Brignac “Ace of Spades” Champagne

(Photo: Ben Gabbe/Getty Images)

Jay Z is officially in the champagne business. The rap mogul has purchased luxury spirits brand Armand de Brignac, whose gold bottle he helped make iconic in his 2006 video “Show Me What You Got.”

New York-based Sovereign Brands said Wednesday it sold its interest in  — better known as Ace of Spades after the image on its bottle — to a new unnamed company led by Jay Z. “We are proud to announce that Sovereign Brands, a New York-based wine and spirits company owned by the Berish family, has sold its interest in the Armand de Brignac (‘Ace of Spades’) Champagne brand to a new company led by the globally renowned Shawn ‘Jay Z’ Carter,” the company said in a statement.

The bubby, which starts at $300 a bottle, is served in the luxury suites at the Barclays Center, home of the Brooklyn Nets (Jay used to be a co-owner of the NBA team). The Roc Nation boss and his wife, Beyoncé, also had a custom-designed, 18-foot-tall tower of the champagne served at a 2012 fundraiser for President Obama that took place at Jay’s 40/40 Club.

Jay got behind Ace of Spades after he boycotted rival Cristal over its decision to distance itself from its hip hop clientele.

article by Evelyn Diaz via bet.com

Jay Z’s ‘Magna Carta’ Easily Keeps its Crown

Jay Z’s ‘Magna Carta’ Easily Keeps its Crown
Lacking any serious new competition, Jay Z’s “Magna Carta Holy Grail” held onto the No. 1 post on the U.S. album chart last week despite a large erosion in sales.

The rapper’s Roc Nation collection shifted 129,000 units, according to Nielsen SoundScan figures for the week ending July 21. Numbers reflected a 76% drop-off from the set’s debut-week sales of 528,000, which was the year’s second-biggest opening to date.

Singer-songwriter Sara Bareilles’ “The Blessed Unrest” (Epic) had to settle for No. 2, arriving with first-week sales of 68,000. Her last album, “Kaleidoscope Heart,” reached No. 1 with a 90,000-unit tally in 2010.

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In at No. 3 was the 24th installment of Razor & Tie’s long-running “Kidz Bop” series, which turned 62,000 copies. The current package contains moppet-friendly versions of hits by the Lumineers, Macklemore & Ryan Lewis, Justin Timberlake and others.

Florida rapper Ace Hood attained his best chart position to date with “Trials & Tribulations” (Cash Money), which ascended to No. 4 with 34,000 shifted. His previous personal best came in 2011 with “Blood, Sweat & Tears,” which peaked at No. 8 behind a 26,000-unit frame.

Holdovers for the week included Florida Georgia Line’s “Here’s to the Good Times” (No. 5, 31,000 sold, off 5%), Imagine Dragons’ “Night Visions” (No. 6, 28,000, down 15%), J. Cole’s “Born Sinner” (No. 7, 27,000, off 32%) and Justin Timberlake’s “The 20/20 Experience” (No. 9, 24,000, up 33%). Timberlake’s album sold just 24 units more than Simpson’s debuting collection, according to SoundScan.

article by Christopher Morris via Variety.com

Jay-Z’s Roc Nation Label Announces Global Partnership with Universal Music

Shawn "Jay-Z" Carter

Jay-Z has released more No. 1 albums in his career than any other solo artist– eleven, to be exact. He hasn’t released a new record yet this year, but he’s been very active on the business front. Recent announcements include a publishing deal with Warner/Chappell, a summer tour with Justin Timberlake and the launch of Roc Nation Sports, with Robinson Cano as its first client.

Today, the hit parade continues. Universal Music Group announced a global partnership with Roc Nation, the label Jay-Z founded in 2008 as part of a $150 million deal with concert promoter Live Nation. The world’s largest record company lured the hip-hop mogul away from Sony Music, which had been distributing Roc Nation’s releases previously.

“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,” said Jay-Z in a statement. “I look forward to a long and prosperous collaboration with UMG.”

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