Local Promoters, Steel Wheels

Corporate Sponsorship Mick Jagger and the Rolling Stones have never been shy about corporate sponsorships. In the early years, the band made little money from its touring activities because there really was no proven model of how to generate profits. The structure consisted of a hired tour manager, who would contact local promoters in each tour city to plan each show, then collect varying amounts of money from them afterward. Jagger got firsthand experience with this side of the business, personally negotiating with some of the local promoters in specific markets and countries.

Canadian rock promoter Michael Cohl began managing the band’s shows with Steel Wheels and created the structure that would allow the band to recognize the real money making potential of this side of the business. The Rolling Stone’s tour model would consist of Cohl working directly with local venues and booking the entire tour without the use of local promoters. He generated additional revenue with skyboxes, bus tours, television appearances, and expanded merchandising efforts. Corporate sponsors-from Volkswagen and Tommy Hilfiger to Anheuser Busch and E*Trade-were added to the formula along with a heavy dose of cross promotion between all of the elements to integrate all of the marketing activities. The Steel Wheels tour earned $260 million worldwide, which was a record at the time for any rock concert tour.

Since Steel Wheels, the band has grossed over $1 billion on the road with the same basic formula-although it continues to tweak the operations side of the equation. It is the biggest revenue generator of the Rolling Stones organization.