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?

Question

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The Rolling Stones have used unrelated diversification by expanding their brand into various product lines such as merchandise, song rights, and touring, beyond just music production.

The Rolling Stones the Rolling Stones Are the Most Successful