rolling stones mick jagger
On November 20, 1983, The Rolling Stones signed a new recording contract with Virgin Records that was widely reported as one of the most valuable deals in rock music at the time. News reports from the period state that the agreement was worth around 45 million dollars, placing the Stones among the highest paid acts in the industry. This information appears in multiple historical summaries documented through ClassicBands.
The signing came during a transitional phase for the group. Their previous deal with Atlantic Records had ended, and the band sought a new partner for their next studio releases. Virgin’s interest was driven by the group’s long standing commercial success, consistent touring schedule, and the strength of their back catalogue. Coverage from the era, including archival chart listings and industry reports, shows that the Stones were still viewed as one of the most profitable touring and recording acts in the world.
The deal marked a shift toward major label investment in legacy artists. According to information contained in Rolling Stone archives and referenced across music industry profiles, the Stones continued to deliver significant global sales after the agreement, including strong chart performances in both the United States and the United Kingdom. Virgin Records benefited from the commercial impact of later releases such as Steel Wheels, which included successful singles and a major international tour.
Further background on the band’s contract history, including their earlier work with Decca and their transition to Atlantic in the 1970s, can be found in the group’s documented recording history through AllMusic.
Related summaries of key events that occurred on November 20 across different years, including chart placements and business milestones, are also listed through This Day In Music.
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