According to nytimes.com and mtv.com, Jay-Z, will be launching his own record label called StarRoc, named after his Roc the Mic recording studio in Manhattan. Here is how the NY Times is reporting it:
The new venture, called StarRoc, will be based at Jay-Z’s Roc the Mic recording studio in Manhattan and will develop new talent through “360 deals,” umbrella contracts covering various aspects of an artist’s output, according to representatives of both parties. StarRoc, which is also to include a music publishing entity, is a 50-50 partnership between the two members of Stargate — Tor Erik Hermansen and Mikkel S. Eriksen — and Roc Nation, Jay-Z’s entertainment start-up. Rock Nation is financed by the music giant Live Nation through a multiple-rights contract the company signed with Jay-Z this spring for a reported $150 million. Last year Jay-Z stepped down after three years as president of Def Jam Recordings, his longtime label, to which he owes one more album. Neither Jay-Z nor the members of Stargate were available for comment on Friday.
You have to hand it to Jay. He knows how to work every angle to get a profitable deal. The guy has his lable financed not by his self, but another label. In short, he got someone else to pay for something he thought of and is now the owner of. Of course he reports to a few people up top, but it’s Jay-Z, international Hov. You think these people will second guess what this man thinks of doing.
Look at his track record of profitable artists under his tutilage at Def Jam:
Jeezy
TI
Luda
Rihanna
Nas
Himself (just to keep himself relevent, don’t want to be in and out of the hip-hop game. LL, for example)
All million(s) unit moving artists.
So, he leverages his credibilty and starts his OWN label and merges with a big time publishing company. Paper!
Jay is a financial genius. He needs to have a show looking for an assistant. F’ Diddy (pause).
-Genius
Bitch ass weak ASS smile