
Ray Gmeiner, vice president of promotions at Vir- gin Records, explains, "The Rolling Stones are a unique brand because theyve taken the business side of rock and roll to the level that few if any other bands have." The Rolling Stones, the business, operates like many other large corporations-as a financially driven, global operation based in the Netherlands (because of its more favorable tax laws). The business model focuses on three core revenue-generating areas-album sales, royalties, and touring, each led by a team of competent executives. The corporate executives hold regular meetings to examine the effec- tiveness 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, "Its a mom-and-pop operation. Mick is the mom, and Im the pop, and then we have these offspring that need feeding."1 Its 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 Jag- ger 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 tech- nology to corporate sponsorships." Together, management and band work closely to create the Rolling Stones brand, which combines the image of the band, the personali- ties 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. The strategies that have created legendary success for Jagger and company can be implemented in any firm looking to build market share, maintain customer loyalty, and remain relevant in the culture and among its fans. The Rolling Stones illustrate how to: S Evolveaproductovertimeataratethatdoesntalienate current fans yet keeps it fresh in the market. S Buildproductfamiliarityandculturalacceptancewithrepeti-