Music
17 Dec 09

U2's Edge Warns Nobody Will Invest in Music

Interviewed exclusively for the Hot Press Annual 2010, which takes a look back over the past ten years, (out Friday, December 18), U2’s The Edge predicts the demise of the record industry if current trends prevail and admits that he’s never heard of Jedward.

Reflecting on the impact of the internet on the music industry, the U2 guitarist sounds a grim warning. “There aren’t going to be any record labels in a few years if things carry on the way they are, because CDs – that industry is pretty much all over,” he says. “And because there’s no replacement right now that’s viable, it just means no one’s going to invest in music, which just means no-one is going to get tour support, record deals, publishing deals, all the rest, which is how every band since The Beatles have managed to get going initially. That feels like that this sort of parasitical medium will basically kill the host, which would not be good.”

Asked about illegal downloading, The Edge tells Hot Press, “You’re never going to stamp it out totally, and in some ways I don’t think anyone cares as long as the majority of transactions on the internet involve some sort of a fair payment to the people who have put their life into the work, and the companies that support them… It’s not even that important, relatively, for us, but for bands that are coming up.”

Asked about the view that the telecoms have “gotten away with murder”, Edge agrees. “I think they have. I think that they are distanced enough that they can hold up their hands and say, ‘It’s not us. We’re not doing anything’. But in the end, people are buying broadband access in order to get ‘stuff’, content of some sort… I think that the people who have been making it their life’s work to create that content have got a reason to be upset… for young groups, it’s important that this gets resolved.”

In a lengthy interview with the Irish rock bible, Edge also reveals to Hot Press that the Spiderman musical is ready to go. “We’re waiting for the word that our director, Julie Taymor, can start putting the show together. We’re told it could be any day. We’ve got new producers involved: Michael Cohl is coming in, to become an additional producer. So they’re busy working on raising finance and getting all that stuff in order.”

When the legendary U2 guitarist is asked “Did you see Jedward at all?” he replies “No. Who’s Jedward?”

For the full interview, see the Hot Press Annual 2010 - out now!!!!