Jay-Z parts with Def-Jam

It’s true: ace-rapper and one of the most sought-after producers in the American music industry, Jay-Z is stepping down from his post as President and Chief Executive Officer of Def Jam Records. And with everything that involves Jay-Z, this move also has its own share of controversies.

“It’s time for me to take on new challenges” said the rapper in an official statement. He has just recently released his tenth studio album, American Gangster, via Def Jam and according to a separate, long-term contract that Jay-Z held with the record label, as an artiste, and is to release two or three albums with the label. Jay-Z who came out of retirement in 2006 and released an album titled Kingdom Come, was often criticised for his seeming interest in promoting his own work than of the artistes signed up with the record label he was overseeing.

Despite the accusations, Jay-Z single-handedly raised Def-Jam Records back to its initial formidable height as one of the most powerful house in rap. During his tenure Kanye West released two highly-successful albums, Late Registration and Graduation, Fabolous with From Nothin’ to Somthin’, he signed on Ne-Yo and Rihanna, the latter who he converted into an international superstar. He helped bolster the careers of Rick Ross, Nas and Jadakiss and launched Young Jeezy’s career as well.

Although Jay-Z declines rumours circulating that he stepped down from the post on monetary terms, citing that he was looking for newer business models for selling records, an anonymous source from Universal – the company that owns Def-Jam – stated that the company was letting go of the Jigga Man because under a renewal of contract that Jay-Z was seeking required Universal to pay him, provided he met some financial goals, over 10 million dollars.

Some may argue that Jay deserves it, but an alternative argument could be that since the record label industry has been experiencing a radical decline in monetary benefits due to rampant piracy and stark declined in CD sales, and coupled with Jay’s own share of controversies, Universal may have decided that renewing his contract wasn’t a feasible option for them. It is unclear whether Jay-Z’s position will be filled immediately after his departure.

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December 30, 2007