Speaking with reporters Tuesday, per Variety, Roc Nation boss JAY-Z outlined the ambitions behind the partnership and said he believes everything Meek has done prior to this has proven he's prepared to lead such a venture.
"We look at the big picture—this is way beyond signing artists and having hot records," JAY said.
Furthermore, JAY sees the potential in Meek to not only keep making music of his own, but to also actively discover new talent.
"We've never been in this position before, never had this sort of power," he said. "Hip-hop is 40-something years old so we've just now gotten to the point where we can really affect change."
As president, Meek will be putting together a team to assist in their goal of signing and developing artists with staying power. Recording, strategy, marketing, and other typically outsourced aspects of the creative process will be handled in house.
Meek, meanwhile, will continue dropping new music of his own via Maybach/Atlantic, with Variety saying Wednesday he has "new content" on the agenda ahead of the kickoff of his and Future's Legendary Nights Tour.
The partnership was also marked with a new Gayle King interview during which JAY reiterated the importance of taking the responsibility that comes with his level of success and Meek praised JAY for carving out a path for younger artists.
"The music and culture we create, you know, we've been giving it away for so long," JAY told King. "Which is understandable, you've got to start somewhere. You've got to clean the floors up before you own the building but we don't shine shoes anymore."
Last month, Amazon shared the trailer for its upcoming Free Meek documentary. Also in June, Meek became part owner of the headwear company Lids Inc.