(AllHipHop News)It is a little more clear why rap star Jay Z is headlining some new music festivals this summer.
Jay has signed a new 10-year, $200 million deal with Live Nation, which will cover worldwide touring.
In a statement, Jay Z was excited to get working with Live Nation and its CEO, Michael Rapino.
“Live Nation and I entered unchartered territory in 2008,” Jay Z explained. “Over 9 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,” stated JAY Z.
The new deal obligates Live Nation to produce and promote JAY Z concert events around the world.
“JAY Z is one of the world’s preeminent touring artists,” added Michael Rapino, president and chief executive officer, Live Nation Entertainment. “This strengthens the creative and business partnership of someone that continues to expand his touring base and reach.”
Earlier this month, it was announced the Jay Z would headline his own Made in America Festival this September.
The rapper is also the headlining act for the Meadows Music Festival, which is taking place in this September in Queens and features stars like Nas, LL Cool J, Red Hot Chili Peppers, Gorillaz, Run the Jewels and others.