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Topic: Stones Are Music's Top Money Makers Return to archive
21st September 2007 07:25 PM
Nellcote The Top-Earning Musicians
Louis Hau, 09.19.07, 12:00 PM ET


Pop music has long been a young person's game. But when it comes to pocketing the biggest returns, oldsters rule.

The Rolling Stones, Madonna and Elton John are no one's idea of fresh-faced talent. Yet they and other veterans account for most of the top-earning musicians as measured by Forbes.

From June 2006 to June 2007, the geriatric Stones earned an estimated $88 million. The Material-Girl-turned-middle-aged mom pocketed $72 million. And nearly 37 years since he first reached the American Top 10 with "Your Song," Mr. Crocodile Rock pulled down an impressive $53 million.

That's not to say that the occasional green upstart can't boast some serious earning power too. Relative youngsters 50 Cent and Justin Timberlake made our list as well, with "Fitty" earning $33 million and ex-'N Sync frontman Timberlake getting $20 million. Of course, smarts and business savvy help too, as in the case of hip-hop entrepreneur Jay-Z, who has enjoyed an exceptionally lucrative 12 months with earnings of around $83 million.

But at the end of the day, most of the music industry's top earners are of older vintage. At a time when the recording industry is reeling from plunging music sales and rampant piracy, how do they accomplish such commercial success? Here are a few things to consider:

Tour, Tour, Tour

It goes without saying that recording artists establish their fame through sales of their music. And even with all the industry's problems, established favorites can still count on strong demand for their recorded product. Country star Tim McGraw, another member of our top earners list, released his new album Let It Go in March and has already sold 1.1 million units in the U.S., according to Nielsen/SoundScan.

But the really serious money comes from touring. And no one can pull in the big bucks like an older, established music act. The Stones had the highest-grossing tour in North America last year, pulling in a cool $139 million. Madonna's 2006 "Confessions" tour was the biggest ever for a female artist, grossing $194 million worldwide.

Helping drive those big grosses are eye-popping ticket prices. Madonna charged an average of $183.76 during her 2006 North American tour, while tickets to the Stones' concerts here averaged $136.63 and seats to Celine Dion's "A New Day..." show at Caesar's Palace in Las Vegas averaged $135.33, according to Pollstar.

How do they--or, more specifically, their concert promoters--get away with such prices? Simple: because they can. These older artists' fans aren't cash-poor college kids waiting tables to earn beer money. They're Baby Boomers and Gen X'ers who have the means to pay up to see their favorite stars.

By contrast, younger bands, even those that have enjoyed massive buzz or considerable commercial success, can't come close to commanding such prices. During the first half of this year, Arcade Fire charged an average of $30.74 per concert ticket, while the average ticket to a Snow Patrol show cost $31.27, according to Pollstar.

Be Big In Japan (And the Netherlands and Mexico and ... )

Cracking the U.S. music market is the dream of every would-be pop star, American or otherwise. But there's no accounting for popular taste in any one country. What's hot one minute is stone cold over the next. Even platinum-selling recording artists can experience being "in" and "out" and then back "in." Just ask veteran acts like Mariah Carey or Aerosmith.

Many of top earning musicians maximize their earning potential by going out of their way to cultivate a fan base outside the U.S. as well, particularly in Europe and Asia. Madonna, Bon Jovi and Celine Dion aren't just popular musicians. They're worldwide pop stars.

"That's not something that happens by accident, that's not something that happens overnight,'' observes Los Angeles entertainment attorney Chris Castle. "That's something they work at. And they work at it because they want a career."

Because developing an overseas fan base takes time and effort, foreign markets tend to have the most commercial significance for older, established pop stars. Being able to count on the support of their fans in, say, Japan, Germany or Brazil opens a myriad of additional touring and retail opportunities for older artists.

"Outside of the United States, fans tend to stay loyal much longer,'' Castle says. "They aren't as influenced by the youth culture as we are here."

Develop Multiple Income Streams

Diversify. It's a fundamental tenet of investing. And it's also a key to commercial success in the music industry as well.

Most top earning musicians don't just rely on album sales, song downloads and touring to generate income. They also exploit the power of their brand name to push other products. That can be as simple as selling ringtones and fan merchandise or locking up lucrative sponsorship deals.

"When you're a big star, there are all sorts of little pieces like that," Castle observes. "Fifty grand here, 20 grand there and before you know it, you're talking real money."

But other, more enterprising stars also delve into completely different lines of business for added income. And it's here that younger stars can rise to the level of older top earners.

The textbook example is Jay-Z. After establishing his props as one of the most respected figures in hip-hop, the Brooklyn, N.Y., rapper used his fame and business smarts to start his Rocawear apparel line in 1999. In March, he sold the company for a cool $204 million. Forbes estimates that he pocketed about a quarter of that himself.

http://www.forbes.com/2007/09/19/music-madonna-rolling_stones-biz-media-cx_lh_0919musicians_print.html
21st September 2007 07:59 PM
pdog Josh will be pleased....
21st September 2007 08:32 PM
fireontheplatter these high priced tickets all started in the early-mid ninties when the Eagles set sail with their 'HELL FREEZES OVER' tour. EVERY seat at giant stadium went for a cool, crisp 100 dalla bill.

i had been to several concerts before and none came close to being that expensive.

i am glad i got my fixes during my earlier years....there is no way i would go see back to back bruuuuuuuce shows now and pay up the ying yang like that...it is just plain silly.


carry on
21st September 2007 11:57 PM
mmdog [quote]fireontheplatter wrote:
these high priced tickets all started in the early-mid ninties when the Eagles set sail with their 'HELL FREEZES OVER' tour. EVERY seat at giant stadium went for a cool, crisp 100 dalla bill.

i had been to several concerts before and none came close to being that expensive.

i am glad i got my fixes during my earlier years....there is no way i would go see back to back bruuuuuuuce shows now and pay up the ying yang like that...it is just plain silly.







I remember they inteviewed some college kid about the prices of Eagles tickets that year, and he said something to the effect of "If the Eagles are going to charge $100, then the Stones are worth $300". Of course in '94 The Stones took the opposite approach and charged $25-50. They were the highest grossing tour of all time to that point.




[Edited by mmdog]
22nd September 2007 07:40 AM
corgi37 Well, good on 'em. They only got $90.00 each out of Daeth & me for 4th row seats.
22nd September 2007 04:24 PM
Mr Jurkka "Pop music has long been a young person's game. But when it comes to pocketing the biggest returns, oldsters rule."

Wtf.. Stones are not POP MUSIC YOU DUM FUCKS!
22nd September 2007 04:46 PM
fireontheplatter
quote:
mmdog wrote:

I remember they inteviewed some college kid about the prices of Eagles tickets that year, and he said something to the effect of "If the Eagles are going to charge $100, then the Stones are worth $300". Of course in '94 The Stones took the opposite approach and charged $25-50. They were the highest grossing tour of all time to that point.




and that was why i saw all 5 shows at giants during the voodoo lounge tour that summer.

i saw all five shows. everything included...gas, food, parking, a couple t shirts, beers and was able to front a friend or two for a couple of the shows. all for just over a g.
23rd September 2007 08:33 AM
glencar Now it's 1 show for a G!

This article about the Stones: is it the same thing after every tour at this point? It doesn't excite me like it once did. I may be nearing the day when I start a thread like SS about leaving these boards. Goofy yes but the time is nigh...
27th September 2007 07:44 PM
Nellcote Rolling Stones get Guinness satisfaction
Wed Sep 26, 2007 9:49am EDT
By Paul Majendie

LONDON (Reuters) - The Rolling Stones may be ageing rockers but their pulling power is undimmed -- they topped the charts with the world's most successful music tour in the latest edition of Guinness World Records.

Giving a handy fillip to their pension funds, the group's "A Bigger Bang Tour" took $437 million dollars to give them a new record.

Madonna also made the annual compendium as the most successful female artist -- her 60-date "Confessions" tour grossed almost $200 million. That meant she earned more than $3 million per concert.

Guinness invariably boasts a string of offbeat and bizarre records, and the latest edition which comes out on Friday was no exception with entries for the highest and deepest concerts.

British band Jamiroquai, fronted by lead singer Jay Kay, performed at 35,000 feet in a specially converted Boeing 737 to an audience of pop competition winners.

British singer Katie Melua and her band headed below the waves, giving a concert 303 meters (994 feet) below sea level aboard an oil rig off the coast of Norway to gain her niche in Guinness.

But some things never change.

Bing Crosby's recording of "White Christmas," released in 1942, still ranks as the biggest selling single with at least 50 million copies sold. It is re-issued every year.

Film fans could be forgiven for thinking that Groundhog Day went on forever -- there were more movie trilogy final parts in 2007 than in any other year.

Hollywood stuck firmly to a winning formula with yet another return for Spider Man, Shrek, Pirates of the Caribbean, Jason Bourne and Rush Hour.

The highest-grossing actor award goes to Samuel L. Jackson. His 75 movies have made over $7.84 billion at the global box office.

Casino Royale, the film debut of Daniel Craig as the world's most famous spy, set a record as the most successful James Bond film of all time, grossing more than $587 million.

The film also boasted the most cannon rolls in a car -- stuntman Adam Kirley did seven in Bond's Aston Martin DBS.

For quirky quiz fans in search of a Trivial Pursuit teaser, Guinness even lists a category for the shortest title of any Oscar-winning film.

It's the Algerian movie "Z", which won two Oscars in 1970.

27th September 2007 08:00 PM
glencar Would a lower case letter qualify as a shorter title?
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