Jay-Z, Samsung close to $20 million promotional deal (Report)

Jay-Z is reportedly in the final stages of negotiations to sign a $20 million deal with Samsung to promote its Galaxy Smartphone line.

The rapper and entrepreneur, who owns a stake in the Brooklyn Nets and started his own Roc Nation Sports agency, is reportedly making his own music streaming service that would feature his music.

“The eight-figure deal will be inked in the next few weeks, and is the biggest of its kind,” a source told Page Six.”You can speculate that he’ll want to develop some kind of new music-streaming service to promote his acts and music on mobile devices.”

Samsung has spent a massive amount of money on marketing, even more than Apple. 9to5Google notes that in 2012, Samsung spent $401 million on marketing expenditures while Apple spent $333 million, Kantar Media notes.

Jay-Z’s reported involvement in Samsung comes right as they released their new Galaxy S4.

If he signs a new deal with the company, it will follow his wife Beyonce’s lucrative deal with Pepsi Co., in which she signed a reported $50 million cross-promotional deal.

image: Beyonce's Tumblr

WordPress › Error

There has been a critical error on your website.

Learn more about debugging in WordPress.