'It’s All Over Now'? — Lessons from the Rolling Stones school of business

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Will the death of Charlie Watts bring an end to a touring business worth billions?

To be sure that didn’t stop the band from planning to go ahead without Watts for its remaining “No Filter” tour dates in North America this fall, concerts that had been shelved because of the pandemic. “No Filter” has already become the eighth-highest grossing tour of all time, earning US$416 million over 44 dates, according to Billboard Boxscore.

Previously bands had a tour director deal with local promoters in each city, collecting their different fees after the shows. Cohl changed all that, and ramped up merchandise, beer and car company sponsorships and other concert ties-in like TV deals to turn the band’s money-making ability up to eleven.

The Stones have always been a business. Altamont aside, they appeared to make pretty sound business decisions, and their career offers business lessons. Another business lesson is Jagger’s lack of sentimentality. The band dropped keyboardist Ian Stewart from the official lineup because he lacked the right look and fired co-founder Brian Jones when he could no longer function.

 

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