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You say you want a Beatles’ merchandising revolution?
Apple Corps, the company that manages the business interests of the Fab Four, has signed a new licensing deal that will bring a refreshed apparel line to US stores this fall, The Post has learned.
The new deal, inked recently with Universal Music’s merchandising unit, Bravado, replaces one Apple Corps had in place with Live Nation, sources said.
Global sales of Beatles’ merchandise are estimated to be between $10 million and $20 million a year, thanks in part to Vegas show, “Love by Cirque du Soleil,” based on the music of the UK quartet, according to one source familiar with the situation.
It’s unclear why Apple Corps and Live Nation split — but the move follows, sources note, the departure of Dell Furano, Live Nation’s merchandise boss, from the Beverly Hills, Cailif., company.
Live Nation did not return calls for comment.
“Live Nation wanted to sell you all their other acts and use The Beatles as a loss leader,” one music industry licensing source said.
Live Nation had held the rights since 2007.
Universal’s Fab Four deal unites under one corporate roof the merchandising and music rights. Universal Music in 2012 bought EMI, The Beatles’ label, for $1.9 billion.
Universal Music Group CEO Lucian Grainge and Bravado boss Tom Bennett pitched the idea of marrying music and merchandise in order to increase the venues where music is sold.
One idea Bravado pitched to Apple Corps is adding to the hang tags of Beatles apparel codes that would get the buyer free streams of the group’s music.
“We want to have the merchandise in as many key retailers as we can to really make a difference,” Bravado’s Bennett told The Post.
Bennett is talking to a major mass-market retailer about a fourth-quarter launch of Beatles-branded clothing that would be backed by a big ad campaign.
The new apparel line would coincide with The Beatles’ BBC recordings, which are being re-packaged for release in September.
For some artists, including Bob Marley and The Rolling Stones, merchandising is far more lucrative than music sales, industry sources said.
The entire industry, which includes touring revenue, is put at around $2 billion, according to industry estimates.
Bravado itself is believed to rake in annual revenue of around $400 million and is said to be growing by double digits each year.
The company declined to comment on its figures.
Bravado has been working on other music merchandise projects with H&M, Forever 21, Zara, Wet Seal and Hot Topic.
“You can’t find a music store anymore,” Bennett noted. “We have a good opportunity in merchandise.”
While The Beatles historically have been cautious about exploiting the brand, there have been a few new product launches of late.