Rap mogul Shawn “Jay-Z” Carter has made another power move in the music industry. According to Joseph Borrino, CFO of Roc Nation, The label has recently acquired Tupac’s entire album catalog from Entertainment One who acquired it from Death Row Records in 2003. The purchase includes all of the masters to Tupac’s albums and unreleased material.
The purchase of Tupac’s album catalog is a monumental move in the music industry as Tupac is one of the highest selling Hip-Hop artists of our time. The purchase cost Jay-Z and Roc Nation $384 Million, givingJay-Z rights to release all of the music that Tupac had created and released. The deal also gives Jay-Z exclusive rights to any music that is released which would feature any of Tupac’s songs or lyrics. “This is a phenomenal event for Roc Nation. We’ve purchased one of Hip-Hop’s greatest icon’s music which would make us one of the largest record labels in the world. We will forever be relevant in the music industry now that we own Tupac’s music,” according to Joseph Borrino.
With the purchase, Jay-Z’s net worth will be an estimated $2 Billion making him the wealthiest artist in the Hip-Hop industry. Plans have also been set in motion to release a new Tupac album in 2016 titled, And Now I Rise, which will feature Snoop Dogg (Snoop Lion), Drake, Nas, The Dream, DMX, Beyonceand of course Jay-Z. The album will be produced by Dr. Dre and Timbaland and will be made available via iTunes, Spotify and Jay-Z’s new music streaming service, TIDAL. According to Jay-Z, he released a statement through his CFO, Joseph Borinno, “I’m honored to be the new owner of Tupac’s album catalog. He is a legend in the music industry and set the standard of hard work when creating music. I will continue his legacy through Roc Nation and will ensure that we keep Tupac’s legacy alive. I will also give Tupac’s mother, Afeni Shakur 10% of all gross earnings made from the future sales of Tupac’s albums.”
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