Jay-Z is reportedly set to sign a deal worth eight figures with Samsung Mobile.
The hip-hop superstar is no stranger to making mega bucks out of his business ventures. Earlier this year his label Roc Nation partnered with Universal Music Group and Live Nation in an agreement said to be worth $150 million.
Jay-Z’s latest arrangement is thought to be a way for him to provide support for the acts he looks after and to help boost their profiles.
“The eight-figure deal will be inked in the next few weeks, and is the biggest of its kind,” an insider told New York Post. “You can speculate that he’ll want to develop some kind of new music-streaming service to promote his acts and music on mobile devices.”
At the moment no further details of the arrangement with the cell phone giant are known.
Jay-Z has been busy over the last few weeks, culminating with an appearance at the Chime for Change event in London over the weekend. The show was put on to promote female empowerment with the rapper’s wife Beyoncé Knowles taking to the stage. The couple thrilled fans when Jay-Z made an appearance for their duet Crazy in Love, taking the opportunity to plant a kiss on his spouse’s face too.
The rap star is rumoured to be setting up a music streaming service to help promote acts signed to his Roc Nation label – including Rita Ora, Alexis Jordan, Bridget Kelly and J.Cole – via the company’s smartphones.