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Music News

New figures reveal that Metallica's finances are in the red: they're losing money due to 'disastrous decisions'

New figures reveal that Metallica's finances are in the red: they're losing money

Despite regularly headlining some of the world's biggest festivals, playing on every continent and having their fingers in as many pies as a rotund Grandmother, Metallica are currently losing money.

A string of terrible financial decisions have cost them according to authors Paul Brannigan and Ian Winwood in their new book, 'Into The Black'. 

“Since 2010 it’s likely that Metallica have lost more money than they’ve made.”  

The pair explained to literary website The Weeklings: "By their own admission, the two stagings of the Orion festival were disastrous financially, and the shambles that was the Through The Never movie cost $32 million and will only recoup a fraction of that amount.

"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."

"Through The Never film project was a horrible misjudgement, a misguided attempt to breathe new life into a decade-old idea," they say. "As the film spiraled horribly over-budget it’s hard not to imagine that at least one band member – and let’s be honest, we’re talking about James Hetfield here – thinking ‘What the fuck have we got ourselves into?’ Quite how that ‘script’ ever got the green light is an unfathomable mystery."

Still, trying to picture a hard-up Lars Ulrich is more difficult than drawing God.

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