Jay-Z concert planned in Washington, D.C. to celebrate presidential inauguration

Live Nation is partaking in the inaugural festivities surrounding the January 20 inauguration of Barack Obama as the 44th president of the United States, with a concert by rapper Jay-Z at the 1,847-capacity Warner Theatre in Washington, DC on January 19. Jay-Z, who signed a contract with Live Nation in May, will perform with a full band.

Jay-Z has been a strong supporter of Obama's participating in benefit concerts and registration drives. Following the historic election, he penned a new song, "History," to commemorate Obama's win. Tickets for the concert will carry a face value of $375 and $500; a $5 service charged is added to all tickets purchased at the theater's box office.

The contract Jay-Z signed with the promoter is a 10-year commitment that is estimated to be worth $150 million. He is joined in Live Nation's Artist division with the likes of recording superstars Madonna, U2, Shakira and Nickelback. The deal includes touring, three albums and a new division at the company called Roc Nation.