The Rolling Stones' Business Model

reallocate writes "These pages were graced a few days ago by a piece that included comments on the future of the music business from the Stones' Keith Richards. Now, here's a detailed Fortune report on the business side of the Stones -- Keith and Mick seem to know what they're doing and may not be all that concerned about the future -- the Stones have ground out $1.5 billion (yes, that's a 'b') in gross revenue since 1989."

Comments

Moderately impressive

[panurge]

So Mr. Jagger is now the CEO and a major investor in an SME with a turnover of around $120M per annum. He has well chosen business associates and, presumably, a considerable degree of autonomy. And because the business is built so closely around him and his close associates, his position is rather secure. Unusually, too, he is a celebrity who is actually famous for doing something, rather than just famous for being plucked from obscurity and made famous. Pretty good

Moral: Kids, stop trying to get on reality TV and go to economics classes.

(This is just a plug for my new single, Smack up ma CEO of a Fortune 500 company)

The Record Labels are Protecting the Artists

[SailorBob]

Riiiight....

Of course, it wasn't just the taxman's pinch that forced the Rolling Stones to focus on the bottom line. They also got screwed by record labels. "In the early days you got paid absolutely nothing," recalls Jagger. "The only people who earned money were the Beatles because they sold so many records."

By the mid-'60s the Stones had reportedly sold ten million singles, including "Satisfaction," and five million albums, but the band was still living hand to mouth. "I'll never forget the deals I did in the '60s, which were just terrible," says Jagger. "You say, 'Oh, I'm a creative person, I won't worry about this.' But that just doesn't work. Because everyone would just steal every penny you've got."