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The Rolling Stones the Rolling Stones Are the Most Successful Act in the Act

question 32

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The Rolling Stones
The Rolling Stones are the most successful act in the music industry largely because they run the band as a business-the Rolling Stones, Inc. Since 1989 (the beginning of the modern age of the Rolling Stone) , the band has generated more than $1.5 billion in gross revenues. That total includes sales of records, song rights, merchandising, sponsorship money, and touring. Unlike some other groups, the Stones carry no anti-business baggage. The Rolling Stones, Inc. operates on a combustible mix of talent and intense labor-the product of four decades of trial and error. The company licenses over 50 products from underwear to formalwear. The Voodoo Lounge tour in 1994 grossed $121.2 million, record earnings for a single tour. Over the past decade, the group's song writing has made about $56 million. The next time you see Mick Jagger, think of him as the highly successful CEO of a mid-sized corporation. The goal of the corporation is to continue providing products that differ from its competitors' offerings so that fans will continue to pay a premium price for what it sells.
-Refer to The Rolling Stones. What kind of diversification has the Rolling Stones used to grow their business?

Definitions:

Recession

A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, typically visible in real GDP, income, employment, manufacturing, and retail sales.

Excess Reserves

The amount of reserves that a bank holds beyond the minimum required by regulation or central bank policy.

Decrease Deposits

A reduction in the amount of funds deposited in banks or financial institutions, often indicating a shift in savings or investment strategies.

Excess Reserves

The reserves that banks hold over and above the legal requirement set by the central bank, available to lend or invest.