Buzz: Metallica in Financial Trouble?

Buzz:  Metallica in Financial Trouble?

metallica band

A story regarding Metallica‘s supposed financial woes has been circulating heavily all day.

The source is a new interview with the band’s biographers, Ian Winwood and Paul Brannigan, who co-wrote a new ‘Tallica biography titled Into the Black. (Rock Cellar Magazine spoke with Brannigan a while ago regarding his excellent biography of Foo Fighters main man Dave Grohl).

Back to Metallica: the apparent financial issues are alleged to have been caused by ‘vanity projects’ that didn’t recoup their reported cost. From the chat:

Well, 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. 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. No one is going to shed any tears upon hearing Metallica pleading poverty, but over the past decade their margins will undoubtedly have taken a hammering.

Through the Never, a shimmery, 3D concert film, didn’t really resonate much with audiences, and the Orion festivals staged in 2012 and 2013 didn’t seem to have the same ‘buzz’ as other big festivals around the United States.

Though most are focusing on the ‘Metallica is in financial trouble’ aspect of the interview, this passage, referring to the band’s new studio track Lords of Summer and their overall slow progress at recording and releasing new music, is especially noteworthy:

It’s a good song. Whether it would stand tall on either Master Of Puppets or The Black Album is another question, but in and of itself there is much to recommend it. What is more worrying is the fact that this song has been standing alone since last summer. Where are the other songs that might join it to make up a new Metallica album? It’s this question that most sorely needs addressing.

In terms of new endeavors, Metallica are reissuing their 1980s demo cassette No Life ‘Til Leather for Record Store Day, and they’re giving away a free download of a recent private gig at their official live bootleg site.

Stay tuned for more regarding Metallica’s current situations…

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