Saturday, March 21, 2015

Metallica have lost more money than made since 2010

In the new book 'Into the Black', authors Paul Brannigan and Ian Winwood state that since 2010, "it's likely that Metallica have lost more money than they've made."

The authors said: "Over the past five years Metallica have embarked upon a variety of vanity projects that haven't exactly brought home the bacon. By their own admission, the two stagings of the Orion festival were disastrous financially, and the shambles that was the Through The Never movie cost $32 million and will only recoup a fraction of that amount. Through the Never made under $8 million in worldwide ticket sales during its theatrical run, Factor in HQ staff salaries, crew retainers and assorted running costs associated with maintaining an entertainment corporation and you can easily understand why the band, of necessity now rather than by choice, are driven to tour Europe every summer. It's hard to fault a band that operates on such principles however, so I'd be loathe to label these decisions as blunders. When Metallica mistrust their own instincts however, they falter, and increasingly in recent years that's made them look at best infallible and at worst dishonest."

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