U2 to switch to different record label

[Popmartijn]

And suddenly it all makes (more) sense to me...

AtU2.com has some articles up mentioning that U2 is going to leave Island Records.
http://www.atu2.com/news/article.src?ID=4402
Apparently they're unsatisfied with the way the executives are running the label (and how their relationship is with the band).

The new record label will be Mercury (also part of the Universal music group, so in a way I'm wondering how much things will change). Since U2 owns all their masters and publishing rights, their whole back catalogue will be re-released on Mercury (apart from 2 exceptions, maybe). There were some signals this was happening in November and I guess this is the reason. I doubt they'll be remastered (or expanded) though.
And now the new Best Of also makes sense to me, although it's still superfluous from my fan point of view. It's just something the band can give to the new label, so it can earn some money with the new contract.

Because as I said there are exceptions to the back catalogue going to Mercury. I can remember around the time the first Best Of was announced (so the 80-90 one), that it would be released exclusively through Island Records, even if the band would move to another label. Now, that record deal for the Best Of compilations originally called for 3 Best Ofs and in the meantime there has been a new recording contract between U2 and Island covering everything (see another story at atu2.com:
http://www.atu2.com/news/article.src?ID=4280 ). Still, I can imagine this being true until today. So the 2 original Best Ofs will remain on Island. Since they're still selling respectably, it's understandable that Mercury wants a Best Of of their own. It means a steady stream of profit.

 

[blueyedpoet]

Wouldn't they be releasing the new best of as a way of completing their contract with Island?

 

[Popmartijn]

Apparently not, since the new best of will be released on Mercury. And I don't know the details of their current recording contract, so it might be they can leave anytime they want. Or this has been negotiated before. Who know...?

 

[U2Man]

they've probably given island some sort of compensation.

 

[U2girl]

Wait a minute...isn't this Best of released under Island, fulfilling that 3 Best of record deal from 1998?

 

[U2Man]

nope, that would have made everything so much easier to comprehend, but that's not the case.

 

[U2girl]

So this Best of is kind of a "hello" present to Mercury label.

What does this make of their deal with Island re: the third Best of?

I think so far U2 had three record deals:

- the first one in 1980 for four albums, so Boy, October, War and UABRS
- the second one in 1984 for four albums again, so UF, JT, RaH, AB
- the third one in 1993 for six albums (signed I think before Zooropa came out) so Zooropa, Pop, ATYCLB, Bomb + two more
- however, I read somewhere this last contract got switched to a 3 album deal in 1998, so ATYCLB, Bomb + one more

But now they probably signed or will sign a new deal with Mercury.

 

[adrball]

Does it really make any difference who they're with when both are owned by Universal?

 

[Popmartijn]

Does it really make any difference who they're with when both are owned by Universal?

I don't know. Apparently it does for the band. We will see...

 

[Popmartijn]

So this Best of is kind of a "hello" present to Mercury label.

What does this make of their deal with Island re: the third Best of?

I think so far U2 had three record deals:

- the first one in 1980 for four albums, so Boy, October, War and UABRS
- the second one in 1984 for four albums again, so UF, JT, RaH, AB
- the third one in 1993 for six albums (signed I think before Zooropa came out) so Zooropa, Pop, ATYCLB, Bomb + two more
- however, I read somewhere this last contract got switched to a 3 album deal in 1998, so ATYCLB, Bomb + one more

But now they probably signed or will sign a new deal with Mercury.

This isn't correct. To my understanding they had/have the following record deals:
- the first one, which was for 3 albums (but also included UABRS, that one was a mini-album so it didn't count for their contract)
- the second contract was for 5 albums (TUF, TJT, R&H, AB and Zooropa)
- around the time Zooropa came out they signed a contract for 6 albums
- a contract with Island for 3 Best Of albums
- and apparently they switched to a new record contract in 1999 that covers both new material and the Best Ofs (according to the Marc Marot interview on @U2.com). I don't know the scope of that contract, although there may be a clause in it for a combined Best Of (and a boxset). According to Marc Marot this contract will take U2 to 2015 or so, so there might be quite some more records coming out.
- And now there's obviously a new record contract, this time with Mercury. Who knows what it says? Maybe some of it will be known in the coming days/weeks/months/years.

 

[U2girl]

I read those bits at "history" bit on u2tour.de, could be wrong.

Yes, that Marc Marot interview is interesting, but does that 1999 contract mean anything as of the release of Best of when it seems like U2 will be officially at Mercury records?

 

[Popmartijn]

Yes, that Marc Marot interview is interesting, but does that 1999 contract mean anything as of the release of Best of when it seems like U2 will be officially at Mercury records?

I don't know. For the most part, it won't mean much anymore as U2 aren't with Island anymore. But as I said earlier, the original (1998) Best Of contract apparently stated that those Best Ofs would remain at Island records, even if U2 would leave the label. Now, of course there was a new record deal a year later, but I can imagine that that aspect (Best Ofs staying at Island) remained. So that part of the contract will still mean anything.

But it's largely guessing for us, since we have to do with the small bits and pieces of information that become available over the years.

 

[U2girl]

I read in EYKIW that this Best of is being released with Interscope (Island) and not Mercury.

 

[Popmartijn]

I read in EYKIW that this Best of is being released with Interscope (Island) and not Mercury.

Yeah, I read it too. Apparently Interscope will still be releasing the U2 albums in the USA (like they did with the last 2). So the new label will be for the rest of the world.

 

[Ellay]

Does it really make any difference who they're with when both are owned by Universal?

Not considering the financial position U2 are in..

It's more of an image thing.

Island used to be seen as an independant label competing with the big boys..

but times change.

 

[the tourist]

The record deal they signed around the time of Zooropa could have been a six album deal including best of's. Then it would make sense: Pop, ATYCLB, HTDAAB, 80s, 90s, definitive.

 

[U2FanPeter]

Aren't U2 stock holders of Island Records?

 

[Vox02]

According to u2wanderer.org (http://www.u2wanderer.org/disco/alb021.html), the new U2 album will be released on Island Records (and Interescope in US).

Vox

 

[Vox02]

The record deal they signed around the time of Zooropa could have been a six album deal including best of's. Then it would make sense: Pop, ATYCLB, HTDAAB, 80s, 90s, definitive.

Best Of's contract was signed in 1998!

Vox