When Jay-Z stepped down from his position as president of Def Jam last month, rumors began to fly about the mogul’s next move. Now it looks like Jigga will be going digital with a new Apple record label.
Yesterday (Jan. 3) technology blog, The Boy Genius Report, “just about confirmed” that Jay will be launching a digital record label with Apple, after speaking to close sources connected with the rapper.
Though it is rumored that the news won’t be officially announced until later this month at Macworld – Apple’s annual expo where new products and ventures are revealed – Boy Genius has his own predictions as to what the deal will entail. He believes that the former Def Jam prez will be brought in to attract and develop artists, but won’t necessarily be running the label.
“From what I’ve heard, Jay is simply the first person attached to it,” Boy Genius told. “He’ll obviously help with the urban division. I’m also hearing there will be a rock, and pop division so I’d expect other high-profile artists to be attached to that in terms of providing content.”
“Personally, I think it’s a great idea,” Boy Genius said of the possible partnership. “Traditional labels have failed to embrace the digital medium as effectively as they should have, and they’ve either got to make some serious changes, or they will be out of business pretty soon. With this deal, Apple would also own content. Jay and Apple love to be first, and this fits. They’re going to change the whole blueprint, so to speak.”
In late December, Jay-Z announced that he is stepping down as president of Def Jam. The announcement followed reports of negotiation break down.