The rich got richer! Rolling Stones signed a contract with Columbia/CBS Records this day in 1983 after spending years with Atlantic. The contract was worth at least $28 million (their biographer Murray Nelson says it was more like $50 million.) Whether 28 or 50 mil, it was the biggest contract any musician had signed to that point, topping Kenny Rogers’ previous record $20 million with RCA.
The contract was reportedly for four new albums and allowed them to keep using their own “Rolling Stones” label . Mick, Keith and the lads gave them two before jumping to Virgin Records in the ’90s. Both 1986’s Dirty Work and ’89’s Steel Wheels did fairly well- both were top 5 hits and platinum in the U.S., Steel Wheels hit #1 in Canada. However, it would seem unlikely Columbia got their money back on them alone. The real goldmine for them though was obtaining the rights to all the previous Stones’ work and being able to reissue them. Fans might not have noticed the change; even though signed to CBS the records and CDs had the Stones’ own “big lips” label on them. They were one of the few acts prominent enough to be on Columbia and not have their records sporting the traditional orange markings of that company.
In the ’90s they signed to Virgin Records but their last album, Blue and Lonesome in 2016 was on Polydor Records, distributed by Universal. That one by the way was their 11th #1 album in their homeland and won them a Grammy Award for Best Blues album… but with the state of music sales, is currently their only regular album not to have gone gold or better in the U.S. Will we see another new Stones album? Time will tell. Although there are no apparent immediate plans for one, the band recently wrapped up a European tour marking their 60th anniversary as a group.