Rochelle News–Live Nation in running for the Rolling Stones archives (Times)
Adam Sherwin, Media Correspondent
Live Nation, the world’s largest concert promotion firm, has emerged as a surprise bidder for the Rolling Stones back catalogue of hits as the band considers ending its relationship with EMI.
Classic albums including Sticky Fingers and Exile on Main Street generate about £3million a year for EMI but control over post-1971 recordings will revert to the band in May.
Sir Mick Jagger has already taken the new live album, Shine A Light, to Universal Music, which owns earlier Stones recordings and was believed to be in pole position to secure further rights.
But Live Nation, which poached Madonna from Warner Music in a £60 million deal and produces Rolling Stones global tours, which have grossed $1.5 billion (£748 million), is understood to have made a counteroffer.
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Live Nation would take merchandising and touring rights for future Stones shows in which they would showcase a classic catalogue album each night. Fans would also be able to buy live mobile downloads at gigs.
With little experience in marketing recorded music, Live Nation could license new versions of the catalogue albums to Universal for download and physical sale.
The Stones have a long-term relationship with Michael Cohl, Live Nation’s chairman, who produced their past five tours, including A Bigger Bang, the highest-grossing concert series with $437 million in ticket sales.
Warner Music and SonyBMG have also entered discussions over the Stones catalogue. The band has not ruled out a future arrangement with EMI but is seeking to re-establish its recorded music legacy with a new generation of fans.
Guy Hands, the EMI boss, has identified exploitation of the label’s back catalogue as a major driver of future growth.
EMI is expected to make a significant offer to retain the catalogue, which offers opportunities for advertising and film soundtracks. None of the parties involved would comment.
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