More than a week after being named chairman of New York-based Translation Advertising, Shawn “Jay-Z” Carter is making his intentions for the company known.
The rap mogul co-owns 51 percent of Translation Advertising with fellow businessman Steve Stoute. The ad agency is part of Stoute’s Translation Consultation and Brand Imaging company.
According to Carter, Translation Advertising will be used to dispel myths about Hip-Hop fans while building relationships within the business world.
“The title of the company says it all, translation. You know, a way to talk to corporate America and have them understand our voice, really,” said the mogul, who shared his intentions to AllHipHop.com. “Not any satire or any type of way like that. Or people breakdancing in the store and things like that because that’s not what we do when we go look for a phone. We don’t walk into a store and hit the breakdance moves and things like that. It’s just a better understanding.”
Although Carter and Stoute own the majority of Translation Advertising, the remaining 40 percent of the company belongs to the Interpublic Group of Companies, the third-largest advertising agency.
The venture comes amid news of Carter becoming the first Hip-Hop artist to headline this year’s Glastonbury Festival.
The three-day event, which is scheduled to take place June 27-29 in the United Kingdom, is expected to draw more than 175,000 people.