U2 Sign $19 Million Deal With Live Nation

The upstart rock collective U2 will receive 1.56 million shares as a part of the 12 year contract they signed in March with touring megalith Live Nation earlier this year. For those who can’t assimilate information easily, that translates into near-as-makes-no-difference $19 million. The agreement includes rights to touring and merchandising worldwide, as well as the band’s website, which LNA will be “substantially and materially involved in” according to the band’s manager and lightning rod Paul McGuinness. Considering the band’s last jaunt, 2005-2007’s Vertigo Tour, took in close to $400 million, $19 million seems, on the surface at least, to be a bit of a steal. Projections on the potential cumulative gross from touring alone over the course of this contract are over $1 billion.

It is important to note that music and publishing rights will remain with Universal Music, meaning that this new U2 agreement is not an all-encompassing 360 deal of the type that Madonna inked with Live Nation last year to the tune of $120 million in compensation.

Via Rock Daily