U2’s The Edge still supports record labels.
March 2nd, 2009 by Joel Weiss in News
U2 persists as the biggest rock band in the world. No Line on the Horizon will likely flirt with platinum status in its first week of release — quite an accomplishment in these dire times for the music biz. There aren’t many acts left for whom pressing a new album is akin to printing money. When U2 hitched their wagon with concert behemoth Live Nation, the band received a load of company stock as part of the 12-year, $120 million deal. So confident they are in their continued success, I wonder if they’ve even checked Live Nation’s stock quote since the deal? (I did! It’s down about 75%!) I can only imagine how the Irish rockers feel about the proposed merger with Ticketmaster!
Given the mansions upon castles of cash this band raked in over the past few decades, there’s a certain understandable reluctance to revolutionize the way things are done. But music fans with even the most primitive knowledge of the health of the recording industry will laugh at U2 guitarist the Edge’s justification as to why the old business model is the way to go.
If you are currently drinking anything, I advise you put down your glass. Your ensuing spit-take may ruin your computer.
The headline of this article from British music tabloid NME announces the possibility of a second U2 album before the end of the year — kind of a big deal, but it’s just the gravy. The meat is below — when the Edge was asked whether U2 would change things up a la Radiohead:
“My instinct is to stick with the record guys. They have to sell your records or sell the downloads, whatever it ends up being. To do that, first of all you’ve got to love and understand the music, and right now I’m not seeing any group that rivals the record labels on that front.”
I suppose if my band were closing in on three full decades of continued cultural relevance, still created music people gave a shit about, and still made money off album releases, I wouldn’t be in a hurry to bite the hand that feeds. But doesn’t U2 know that they are the exception to the rule? Are they so surrounded by yes men waiting for a trickle-down that they are utterly oblivious to their own business?
Maybe U2 thinks the recording industry will be greeted as liberators. After all, no one will ever love or understand their music as much as those burdened with selling it.
March 3rd, 2009 at 2:15 pm
May I burn a copy of your promo, please?
March 3rd, 2009 at 2:18 pm
Surprising…
I figured they would be quick to jump on the ‘no record label’ movement….
Guess not. Disappointing just a bit.
March 3rd, 2009 at 2:27 pm
Jessica – I don’t have a promo. I streamed if off myspace. But it’s out now. You can buy/steal it pretty easily.
Rita – Either they’re so rich they’ve become out of touch, or they’re just too rich to give a shit. Who knows.
March 3rd, 2009 at 2:40 pm
It was a joke :)
March 4th, 2009 at 3:04 pm
It would be foolish for U2 to go solo. Radiohead and NIN fans are more tech savvy (for the most part). U2 is “sautered” to the mainstream in a way that would be impossible to split. Like you said, it would be biting the arm that has been feeding them… But you never know. Looks like LiveNation will be in the business of putting out records soon anyway and U2 will eventually cut ties with their label. I would put money on it.