Rolling Stones

I happened to be reading Bob Lefsetz recently on the Rolling Stones moving to Universal from EMI; after a few minutes I thought to myself, “Hey, I think I know why the Stones catalog got pulled from eMusic so unexpectedly soon after its arrival.” Note that this post is 100% pure speculation; I have absolutely no inside knowledge about what actually happened. As previously noted by Yancey Strickler, eMusic did a fair amount of due diligence with both ABKCO (the company holding rights to the Stones’ older releases in the US, the only region in which the eMusic Stones releases were made available) and Universal (the major label through which ABKCO distributed those releases) in order to make sure there were no impediments to the proposed deal. However something happened between the time of the contract signing and the time the releases were pulled, something that caused either ABKCO or Universal to get cold feet and kill the deal. ...

Sometimes I can’t help but agree with Bob Lefsetz’s thesis that the music industry is well and truly f*cked, and this is one of those times. As every eMusic subscriber knows, not too long ago eMusic did a deal with ABKCO to sell the early Rolling Stones back catalog under standard eMusic terms (DRM-free MP3s sold at 33 cents per track or even less depending on your subscription plan). eMusic pulled out all the stops to promote the releases, eMusic subscribers were ecstatic, and by eMusic’s account the folks at ABKCO and Universal Music Group (ABKCO’s distributor) were “incredibly impressed” by the amount of business generated—business that was likely almost pure profit from the point of view of ABKCO, UMG, and everyone else involved, and that almost certainly wouldn’t have been generated under the standard iTunes 99 cents per track model. (As I and others have noted many times, eMusic caters to dedicated music listeners who spend a lot of money on music and prefer paid downloads over P2P, but are very price-sensitive.) I’m by no means a Stones fan, but even I took advantage of the opportunity and purchased Let It Bleed and Beggars Banquet (the full albums, not just the singles). ...