According to Forbes, Jay-Z will hand over the copyrights of both his own songs and those on the music publishing roster of his company, Roc Nation to Warner/Chappell Music, the publishing arm of Warner Music Group.
Going all the way back to Jay-Z’s music in 2008, current and any future music.
When Hov was asked about his new deal he stated:
“The real meaning of success is being in the position to work with an individual you consider a friend,” Jay-Z said in a statement. “Jon Platt is such a person. He’s a man of extraordinary character as well as a remarkably talented executive with an ear for music and an eye for talent. It’s great to watch him grow to be one the best in the business.”
Platt also had good things to say by adding:
“I couldn’t be happier to continue my relationships with Jay and Roc Nation and build on our partnerships at Warner/Chappell. We have the global expertise and resources to deliver new opportunities for their amazing catalogs, while helping them reach new heights of success around the world.”
What does this mean for Jay-Z?
By the end of 2014, he’ll be in full control of both his master recordings and publishing rights. Meaning more money in his pockets and less going out to others.
Nice move Hov!