When does U2's current record contract expire?

[JimmyChicken]

When does U2's current record contract expire?

My best guess is in 2003, because at U2.com that's as many years as their "Time Slider" allows for. Plus its gone as far as 2003 ever since the site was created in 2000. So why would they have 3 more years than they needed at the time without reason?


Also how many albums and singles are they contracted to release in the current contract?


Does any body out there actually know or have any information?

 

[Popmartijn]

When does U2's current record contract expire?

My best guess is in 2003, because at U2.com that's as many years as their "Time Slider" allows for. Plus its gone as far as 2003 ever since the site was created in 2000. So why would they have 3 more years than they needed at the time without reason?

Don't let the time slider fool you. I don't know exactly why it goes to 2003, but it has no significance at all.
Record contracts are usually not for a number of years, but for a number of albums (usually 7, although many musicians are beginning to protest these contracts as they go against Californian contract rule, which is often applicable as many record companies are based in LA). Bill Flanagan writes in U2 At The End Of The World that U2 had a very good bargaining position when they delivered Zooropa, as that album released them from their contract with Island a full 2 years earlier than expected. After negotiations U2 re-signed with Island/Polygram for a long-term 6 album deal. Now, the Best Of compilations fall outside of this contract (U2 signed a separate contract with Island for 3 compilation albums in 1998, apparently for a sum of 50 million dollars). So Pop and ATYCLB fall certainly within the contract. The only question is if the album they released under the Passengers monniker, Original Soundtracks 1, is also considered part of the contract. If it is, then U2 have to make 3 more albums before their contract expires, if not then they have to make 4 more albums.

Also how many albums and singles are they contracted to release in the current contract?


Does any body out there actually know or have any information?

As for the # of albums, see my answer above. I don't know what the situation is regarding the singles. It could be that the record stipulates that the record company has to promote the album with 4 singles at least, but it may also be possible that no such clause is set in the contract and that U2 themselves have more freedom to decide which and how many singles to release.

Hopefully this clarifies everything a little bit.

C ya!

Marty

P.S. If you have more interest in the business side of U2, hop over to the Peeling off those dolllar bills forum.

 

[JimmyChicken]

Thanks Marty!

That answer was very informative and comprehensive. You did a good job. Couldn't have asked for better!


As for Original Sound Tracks 1. Did they not create "Passengers" as a separate entity from U2. Therefore wouldn't Passengers material be under another contract?

The reason I was curious about this was because I've some posts concerning U2's future. Some of these posts seem to speculate there's going to be one or two more U2 albums and then they'll call it a day.

But, since they're under contract to make another 3-4 albums, then perhaps they're more likely to do this. This would prevent complications with their contract.

Regarless of that, they've still got to come up with a third Best Of, so they'll need at least another 3-4 albums to gather enough material.


Hmmm... More to speculate!

 

[Popmartijn]

Re: Re: When does U2's current record contract expire?

Thanks Marty!

That answer was very informative and comprehensive. You did a good job. Couldn't have asked for better!

You're welcome!

As for Original Sound Tracks 1. Did they not create "Passengers" as a separate entity from U2. Therefore wouldn't Passengers material be under another contract?

But then again, Passengers did consist of U2 (& Brian Eno), so there was a match of 80% with the U2 line-up. I personally think it also falls outside the 6-album contract, but as there has been no information about it, nobody knows for sure.

The reason I was curious about this was because I've some posts concerning U2's future. Some of these posts seem to speculate there's going to be one or two more U2 albums and then they'll call it a day.

But, since they're under contract to make another 3-4 albums, then perhaps they're more likely to do this. This would prevent complications with their contract.

However, I think that when a band calls it a day, that the contract is then being disbanded. When a band breaks up, it breaks up. It's then not advantageous for a record company to keep a band to its contract as the band does not want (or is not able) to work together. So a band can always break up. Is this the case with U2? I don't know, but I don't hope so!

Regarless of that, they've still got to come up with a third Best Of, so they'll need at least another 3-4 albums to gather enough material.

Or the Best Of is a different compilation of their current output. Or a live compilation. Or...
If you really want to you can always keep speculating on things to happen.

C ya!

Marty