Yes, Jay-Z has signed reportedly signed a deal with Live Nation for north of $100 million. While this money is to be spread among a number of Jay-Z needs part od the deal calls for $30M in $10M per album advance for 3 albums over 10 years.
Here’s the part that amazes me: they think the album is still going to be a valid form of music distribution ten years from now. As much as I love and respect the artistic promise of an album let’s face facts – the album is dying.
And for artists like Jay-Z it would seem that the singles market is already a far more lucrative track.
Something tells me the idea of paying ANYONE $10M for an album ten years from now will be laughable.