Page Six from the New York Post is reporting that Jay-Z is close to signing an 8 figure deal with Samsung that could pay the rapper/entrepreneur upwards of $20 million. The speculation is that Jay-Z will use this deal to “to develop some kind of new music-streaming service to promote his acts and music on mobile devices,” but he might just be making some commercials and doing some product placements.
It seems more likely that Jay-Z will be bringing his marketing prowess to Samsung who has been mounting a serious marketing push in recent years. In fact, Samsung marketing expenditures even beat out Apple’s in 2012, $401 million to Apple’s $333 million, according to ad research and consulting firm Kantar Media. This deal is coming hot on the heels of the release of Samsung’s new flagship smartphone, the Galaxy S4.