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...Live Nation is expected to furnish Jay-Z, born Shawn Carter, with $5 million in seed money annually for his own label, publishing arm and management company, with significantly more funds available for future acquisitions and expansion. He will also receive a $25 million upfront payment and $10 million per album for a minimum of three albums over the next decade...

Author: /time Magazine | Title: Jay-Z: Music's $150 Million Man | 4/3/2008 | See Source »

...Given the trajectory of Jay-Z's record sales - 2003's The Black Album sold 3 million copies while 2007's American Gangster barely cracked 1 million - he would have been crazy to turn down the deal. But how sane is Live Nation? Last year the company reported a $12 million loss, and even the most optimistic projections for Jay-Z's sales and entrepreneurship would make it tough for the company to recoup its investment...

Author: /time Magazine | Title: Jay-Z: Music's $150 Million Man | 4/3/2008 | See Source »

...company's strategy is live performances. Despite the stagnation of record sales, the concert industry is booming. Last year revenues were up 8% to $3.9 billion, and Live Nation is in perfect position to expand its market share. Eight years ago, Live Nation, then a part of Clear Channel Communications, struck a deal with Ticketmaster that gave Ticketmaster exclusive rights to sell most of Live Nation's 30,000 nationwide events. That deal, which accounted for nearly $200 million in revenue in 2007, expires in 2008, and Live Nation's own ticketing system, already the third-largest in the United...

Author: /time Magazine | Title: Jay-Z: Music's $150 Million Man | 4/3/2008 | See Source »

...live music market is almost guaranteed to mean one thing: ungodly ticket prices. In 2007, the cost of two seats to see Phil Collins and a re-united Genesis warble Mama was around $400, while two of the best seats for Jay-Z's current 28-date Live Nation tour with Mary J. Blige go for $500.00. Anti-trust laws prevent Live Nation from selling more than 10% of its own tickets, but at those prices, 10% adds up fast. For consumers, the pain could be acute. But for Jay-Z, it's a wonderful morning...

Author: /time Magazine | Title: Jay-Z: Music's $150 Million Man | 4/3/2008 | See Source »

...else was hurt? No one. Meanwhile, two high-level political executives - responsible for the deaths and terrible injuries of thousands of U.S. service personnel and tens if not hundreds of thousands of Iraqis, trillions of dollars of debt, total disruption of the Middle East and destruction of our nation's good name - sit safely in their offices, unthreatened with even impeachment and ready to escape into retirement without a scratch when their term ends. Payment for sex is apparently far worse than the losses of blood, treasure and our nation's reputation. American values? They're in the toilet. William...

Author: /time Magazine | Title: Inbox | 4/3/2008 | See Source »

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