U2 guitarist The Edge says the record industry may very well not survive current industry trends. Speaking to Irish magazine “Hot Press” he said “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.
“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.”
On illegal downloading, Edge told the magazine, “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.”
Telecom companies that are allowing broadband to be used to download illegal music also come in for criticism.
“They have “gotten away with murder,” Edge says. “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.”
Edge also revealed to Hot Press that the new "Spider-Man" Broadway musical, which he co-wrote with Bono, 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.”
The U2 guitarist was asked what he thought of Jedward, the new bad-singing sensations from Dublin who were featured on the 'X Factor' show in Britain. “Did you see Jedward at all?” he was asked.
“No. Who’s Jedward?”