WELCOME 1 || 2018 FEX Symposium Resource ||
The Changing Value of Partners
Dave Simpson Richard Ivey School of Business
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The “Band”
1962
‐founding concert “Rollin Stones”
‐Mick Jagger
‐Keith Richards
‐Brian Jones
‐Dick Taylor‐Ian Stewart
1963(Rolling Stones)
-Mick Jagger-Keith Richards-Brian Jones-Bill Wyman-Charlie Watts-Ian Stewart (became road manager by 1965)
1970-75
-Brian Jones dies and is replaced by Mick Taylor
-Mick Taylor quits in 1974
-Ron Wood joins in 1975
1993-Bill Wyman retires-Daryl Jones “hired”-Lisa Fischer “hired ‘89 tour”-Chuck Leavell“hired ‘82 tour”
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Rolling Stones
Partnership
Netherlands based companies
TouringRecordSales
MusicRights
ProductLicensing
$1‐2 BillionSince 1989
350 Employeesduring tour
Over 200 million albums
Film rights, Radio Play
Corporate:Microsoftpaid $4 million for
Start me up
Logo t‐shirts
Underwear
Jackets
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Today’s Show
Video
‐Jagger ‐Richards‐Watts‐Wood‐Fischer‐Jones‐Leavell
Tickets 10,000,000
Merchandise 500,000
CD Sales 135,000
Food Bev 600,000
Advertising Rights 250,000
11,485,000
Revenues
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Key Documentation
• What are the assumptions in our partnership and what do we value
• When things change, how will we revisit these assumptions
• Which mechanisms can we agree to utilize –shotgun, buy, sell, valuations formula, etc.
• Do our wills reflect our operating assumptions
• How do we finance changes (insurance)
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