Outspoken Metallica drummer Lars Ulrich has insisted the group will never sign to concert promoters Live Nation.
Live Nation have been busy snapping up some of the biggest acts on the planet. Madonna now releases her albums through the company, and has been joined by acts such as Jay-Z and Shakira. Irish rock group U2 also signed a deal with Live Nation which took a turn for the worse for the concert promoter.
As part of the deal U2 were paid in shares in Live Nation. When share values plunged, the group simply sold them back to the company at their original value – costing Live Nation tens of millions of dollars.
In a new interview Lars Ulrich revealed that Metallica have no plans on handing over the group’s image to the company. “We haven’t sold out to Live Nation, and we are certainly not planning on it. And we are very, very fortunate that we do not need what they offer to continue to be who we are” he told US magazine Billboard.
“Let’s cut to the chase… The primary, not the only, but the primary – function of a record label is to act as a bank. When you’re fortunate enough to be successful and so on, you don’t need to rely on record companies as the banks.”
Metallica released their new album ‘Death Magnetic’ late last year. Acclaimed by fans as a successful return to their thrash roots, it hit number one on both sides of the Atlantic confirming the group’s position as one of the biggest bands on the planet.
