The debate intensified after Pink Floyd guitarist David Gilmour announced that he doesn’t intend to profit from his day-out in Hyde Park.
"This is money that should be used to save lives," Gilmour says. "If other artists feel like donating their extra royalties to charity, perhaps the record companies could be persuaded to make a similar gesture and that would be a bonus."
According to HMV UK & Ireland, since Live 8 sales of Pink Floyd’s Echoes ‘Best Of…’ have increased by a staggering 1,343%.
While not as dramatic as that, U2’s Best Of 1990-2000 registered a 116% hike, and Snow Patrol’s Final Straw 69%.
“I’m not going to discuss the ins and outs of the band’s finances, suffice it to say that Snow Patrol have a long history of showing support for various causes,” says a band spokesperson when asked what their plans are re: royalties. “They were involved in the Make Poverty History campaign right from the start and will continue to be involved. I think we can safely assume that they wouldn’t exploit their involvement for the sake of personal gain.”
Adds a well-placed Irish industry source: “Fair play to David Gilmour for donating his royalties to charity, but he’s not still in debt to his record company which a lot of the younger Live 8 acts would be. It’s interesting that the labels themselves have been very quiet on the subject – their cut of each additional sale is €5 or €6 as opposed to the €1.50 to €2 the acts would get. And what about Pete Doherty whose sales dropped by 35% after his disastrous performance with Elton John. Will he get a refund?”