
Well, we all knew this was coming. I guess he got tired of those LL Cool J death threats.
Shawn “Jay-Z” Carter will step down as Def Jam Records president when his contract expires this year, he and Universal Music Group announced today (Dec. 24). The rapper will continue to record for Roc-A-Fella, the label he co-founded in 1996, which is part of the Universal-distributed Island Def Jam Music Group.
In a statement announcing his departure, Jay-Z acknowledged the artists and executives he had worked with during his three years as label president, including IDJ chairman/CEO Antonio “L.A.” Reid.
He added, “It’s time for me to take on new challenges [Managing Beyonce’? Hmmm…]. I am pleased to have had the opportunity to build upon the Def Jam legacy, helping to move the company into a new era of artistic success.”
Reid stated, “Jay made it clear to us that he feels the time has come to take on different challenges in his life. While we regret his decision to move on, we certainly respect it … While he will continue to be one of our signature artists, he will nonetheless be missed in this executive capacity.” (source)
Well color me beige and give me 2-3 humps!
I bet you Redman, Ghostface, LL Cool J, Ne-Yo, Chrisette Michelle, Megan Rochelle, and all the other under-promoted artists are having a big ole party right now, on Def Jam’s dime at that. Coke and Rum for everyone, and I ain’t talking about the drink. Only person sad is Rihanna — she done lost her sugar daddy.
I think that whenever you have someone who is still intimately involved with the performance aspect of the industry, yet is attempting to manage and execute goals on a corporate level, there is going to be a major conflict of interest.
One just has to look at Jay’s recent album. There were plenty of other artists who had release dates before Jay decided to release American Gangster. All of a sudden, he wants to release an album. Because he IS Jay-Z, he’s obviously going to eclipse everyone else. He’s always going to be a priority artist.
So as a result of his decision as the President of the label to release his album, and spend money on himself essentially — other artist aren’t promoted or given equal time because Jay-Z is using up all the resources for himself. He’s priority — because of his history in the industry, but ALSO, because he’s given himself priority because he’s the PRESIDENT.
That’s my .02.
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