The legendary Rolling Stones have left EMI to join with Universal Music Group in a deal that covers all their future albums and their entire catalog! Announced yesterday, this ends rumors that the band was set to join Jay-Z and Madonna by signing a "360" deal with Live Nation. Universal described the deal as "exclusive, long-term, worldwide". New recordings will be released on UMG's Polydor label worldwide, putting the distribution of the entire Stones catalog under one roof for the first time. The deal covers both digital and physical distribution, with UMG already working on a long-term strategy to digitize the catalog. The Stones had tested the waters with Universal back in April, when they released the soundtrack to their Martin Scorsese directed documentary "Shine A Light" through the label.
They are the latest band to jump ship from EMI. In a statement, the Stones; their career sales are 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". Several record company veterans felt "Universal really pulled out the stops for the Shine the Light album, and that really impressed them". For EMI this is troubling news as they've struggled to keep a number of their key acts in the fold since a takeover in 2007 by private equity firm Terra Firma. After Radiohead left last year, band member Ed O'Brien said EMI "doesn't understand the music industry". Other performers 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 response to the Rolling Stone 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." (cheap deals???)
In other recent Rolling Stones news, click here.
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