Roc-A-Fella

Meanwhile, in New York, a talented up-and-coming MC named Jay-Z was trying to blow up the old-fashioned way: by shopping his demo around to the major labels in hopes of signing a traditional artist deal. But he was rejected by all of them. Jay-Z, his manager Damon Dash, and Dash's childhood friend Kareem "Biggs" Burke then decided to form their own record label, Roc-A-Fella Records, to release Jay-Z's music. Roc-A-Fella released Jay-Z's debut single, "In MY Lifetime," through Payday Records but weren't satisfied with the agreement, so in late 1995 they entered a 70/30 distribution deal with Priority Records to issue Jay-Z's debut album, Reasonable Doubt. Released in June 1996, Reasonable Doubt received universal critical acclaim and went gold. The singles "Ain't No Nigga" and "Can't Knock The Hustle" showcased Jay-Z's incredible wordplay and offered a glimpse at his hit-making capabilities. It also opened the doors to the same major labels that, years earlier, had rejected him. But Damon Dash was no longer interested in merely signing his superstar to an artist deal. He insisted on a joint venture, which is different from the P&D deals signed by No Limit and Cash Money. Here, the two labels share the revenues but also the expenses. I'm 1997 Jay-Z, Dash abd Burke sold a a stake in Roc-A-Fella to Def Jam for approximately $1.5 million and found a home at the historic label.