Stones to leave Virgin and move to Universal
Posted: Sat Jul 26, 2008 12:00 pm
Deal includes their back catalog as well.
http://news.sky.com/skynews/Business/Ro ... 7415056677
The Rolling Stones have jumped ship from EMI to Universal Music, in a deal that covers all their future albums and their entire back catalogue.
They are the latest band to turn their backs on EMI.
In a statement, the Stones - with career sales estimated at more than 200 million albums - said: "Universal are forward thinking, creative and hands-on music people.
"We really look forward to working with them."
Universal said they would now be looking at how to adapt the band's music catalogue for the "digital age".
The company had already released the soundtrack from "Shine A Light," director Martin Scorsese's film of a Rolling Stones gig, and that played a major role in convincing the band to switch labels.
A record company veteran close to the band told Sky News Online: "Universal really pulled out the stops for the Shine the Light album, and that really impressed them".
EMI have struggled to hold on to some of their key acts since a takeover by private equity firm Terra Firma in 2007.
When Radiohead left last year, band member Ed O'Brien said the firm "doesn't understand the music industry".
Other acts to protest against the label include Robbie Williams, who decided to hold out on delivering a new album to the company.
His manager said he was not sure anyone in EMI was capable of marketing and promoting it successfully.
In a terse response to the latest news, a spokesman for EMI said: "EMI Music Group wishes the Rolling Stones well in their new venture and looks forward to a continuing relationship with the band through our long-term publishing agreement.
"EMI Music will only ever conclude mutually beneficial agreements with its artists."
http://news.sky.com/skynews/Business/Ro ... 7415056677
The Rolling Stones have jumped ship from EMI to Universal Music, in a deal that covers all their future albums and their entire back catalogue.
They are the latest band to turn their backs on EMI.
In a statement, the Stones - with career sales estimated at more than 200 million albums - said: "Universal are forward thinking, creative and hands-on music people.
"We really look forward to working with them."
Universal said they would now be looking at how to adapt the band's music catalogue for the "digital age".
The company had already released the soundtrack from "Shine A Light," director Martin Scorsese's film of a Rolling Stones gig, and that played a major role in convincing the band to switch labels.
A record company veteran close to the band told Sky News Online: "Universal really pulled out the stops for the Shine the Light album, and that really impressed them".
EMI have struggled to hold on to some of their key acts since a takeover by private equity firm Terra Firma in 2007.
When Radiohead left last year, band member Ed O'Brien said the firm "doesn't understand the music industry".
Other acts to protest against the label include Robbie Williams, who decided to hold out on delivering a new album to the company.
His manager said he was not sure anyone in EMI was capable of marketing and promoting it successfully.
In a terse response to the latest news, a spokesman for EMI said: "EMI Music Group wishes the Rolling Stones well in their new venture and looks forward to a continuing relationship with the band through our long-term publishing agreement.
"EMI Music will only ever conclude mutually beneficial agreements with its artists."