News•March 20, 2015 11:12 AM ET•12,516 views
Metallica in serious debt, says biographers
In a new interview with the magazine Weeklings, Metallica biographers Paul Brannigan and Ian Winwood claim that the band has lost more money than it's made since 2010. Brannigan and Winwood say that not only were the band's two installments of the Orion Music + More Festival "disastrous financially," but the Metallica concert film Through The Never cost nearly $32 million, yielding little in return. "Factor in HQ staff salaries, crew retainers, and assorted running costs associated with maintaining an entertainment corporation and you can easily understand why the band — of necessity now rather than by choice — are driven to tour Europe every summer," Brannigan and Winwood explained. Metallica's strained financial position may also explain their private show for Salesforce.com CEO Marc Benioff last month, which likely netted them a very large check. Of course, I wouldn't worry too much about Metallica. They're all still millionaires.
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