The Rolling Stones are leaving their long time label, EMI, for the biggest record company in the world, Universal.
Universal said on Friday that the new deal covered both future albums by the Stones and their back catalog, including such classics as Sticky Fingers and Brown Sugar.
Who cares about the new stuff? We think it’s the catalog stuff that is a huge score for Universal!
The record compnay did not disclose terms of the deal.
“Universal are forward-thinking, creative and hands-on music people,” the Stones said in a statement. “We really look forward to working with them.”
This news was no doubt a hard pill for EMI to swallow. It announced plans this year to cut more than one-third of its work force to offset a drop in CD sales revenue and the departure of several major artists, including Paul McCartney.
EMI has reportedly struggled more than the other major labels as digital music downloading has gained in popularity.
Thank God for Katy Perry and Coldplay, or else EMI/Capitol would be FUCKED right now!
[Image via WENN.]