Generating Revenue, Corporate Sponsorships

The corporate executives hold regular meetings to examine the effectiveness of the managers for each product line in generating revenue and controlling expenses. Although the organization is private and secretive, Fortune magazine estimates that the Stones’ revenue since 1989 totals $1.5 billion (see Table 5.1), eclipsing competitors such as U2, Bruce Springsteen, and Michael Jackson. Keith Richards claims, “It’s a mom and pop operation. Mick is the mom, and I’m the pop, and then we have these offspring that need feeding.” It’s a well run mom and pop operation nonetheless, guided by business manager Joe Rascoff and Prince Rupert Zu Lowenstein, a London banker and trusted business advisor for over 30 years.

Gmeiner adds, “A lot of the direction of the band comes from Jagger who is not only the front man of the band but the front man of the business. He has been instrumental in adding some of his ideas to the promotions side of the band, from the integration of technology to corporate sponsorships.” Together, management and band work closely to create the Rolling Stones brand, which combines the image of the band, the personalities of its members, and a diverse array of products, including logo merchandise, concert tours, royalties, recordings, videos, books, and corporate endorsements. The band is also a master at delivering a consistently satisfying blend of old and new music (more old than new) in an evolving musical experience. This intense combination helps the Rolling Stones brand infiltrate the culture at many levels and keep fans engaged and wanting more.