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Aging Rockers Thrive in Turbulent Music Industry

By Adam Pasick

LONDON (Reuters) - Middle-aged musicians who have neither burned out nor faded away -- yet may be some years past their creative peaks -- are pulling in the real money in today's topsy-turvy music industry.

In the young person's game that is popular music, the top of Rolling Stone magazine's 2004 money list is dominated by artists of a certain age like Metallica and Rod Stewart.

They may not produce as many chart-topping songs as they once did, but with album sales flagging due to Internet piracy and competition from other entertainment outlets, they pull in revenue streams from merchandise, concerts and books.

To find a group on Rolling Stone's list that has been around for less than 10 years, you have to go down to Linkin Park at No. 9.

The rock band trails artists such as Prince and Madonna, who both had blockbuster tours and Jimmy Buffett, who released his first fully-fledged country album in 2004 but more importantly has a lucrative string of "Margaritaville" chain restaurants.

It's not only true at the top.

Artists dubbed "heritage acts" like Simple Minds, Iron Maiden and Bryan Adams still enjoy avid fan bases and are making good money and playing big concert dates.

"When you write really big songs they connect with people in such a way that it reminds them of the moment they first heard them," said Max Hole, executive vice president for marketing and A&R at Universal Records.

"They want to keep being reminded, and one way is to go see them live."

SANCTUARY FOR AGING ROCKERS

Many niche yet lucrative heritage acts are housed at Sanctuary Group, known half-jokingly in the industry a "haven for aging rockers," which is the world's biggest independent music label.

It is also a major player in artist management, merchandising and touring. The company purchased Elton John's management company for $30 million last week.

Sanctuary grew out of representing heavy metal group Iron Maiden, which is still touring and putting out albums despite falling off the mainstream radar.

"We've recognized that selling records is only one part of the mix, and that's especially true for heritage artists," said John Williams, senior vice president of A&R at Sanctuary.

"They've got touring down, their publishing income from songwriting is substantial and merchandise is brilliant -- Led Zeppelin T-shirt sales, for example, are as strong as they ever were.

"It's the artists that are songwriters, artists that love to tour, and artists who love to reinvent themselves -- these are the types of the artists who can go out and constantly tour and not just play the greatest hits," he added.

However, heritage acts that neglect playing their hits risk angering their fan base, which often includes a second or even third generation raised on a diet of classic pop music.

"When I just saw Bryan Adams play to 12,000 people in Sydney, no one left feeling like they didn't hear him do 'Summer of '69,"' Hole said. "He understands that if he doesn't play the songs people want to hear, they won't go away feeling warm and fuzzy."

FORMULA FOR LONGEVITY

Music bosses say the secret to making the move from young chart-topper to prosperous heritage act lies mostly in the long, hard slog of touring: steadily building a fan base from the bottom up.

"Nothing can replace touring," said Sanctuary Group President Tom Lipsky.

"What (heritage acts) share is that they had that originality, something that no one else was offering, and they were relentless; they toured and toured and toured."

It is a formula that means many of today's cookie-cutter pop acts are unlikely to enjoy longevity.

"The business is so much faster," said Hole. "It's harder to get noticed, a big part of the pipeline is being used up by TV-driven instant artists, and it's quite difficult for them to build careers."

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