Gone are the days when bands could rely on physical sales and mailbox money to sustain them long after they had broken up or retired. Legacy acts like the Beastie Boys, Led Zeppelin, and The Doors could sit back and cash fat royalty cheques but the advent of music streaming has changed that. With physical sales now a small percentage of their revenue streams, successful composers of a certain vintage have two options: sell their catalogue to companies that buy up publishing rights or get the band back together and hit the road.
Reuniting for tours has proven to be a lucrative proposition for established acts. Bruce Springsteen can easily rake in a couple hundred million dollars any time he gets together with E Street Band, and Guns N’ Roses’ Not In This Lifetime tour since 2016 has raked in gross revenue of around $1 billion. Even the death of founding member Charlie Watts hasn’t slowed down The Rolling Stones, who have grossed over $1.2 billion this century alone. Promoters are willing to offer heritage bands sweet guarantees if they get back together because amphitheatres and arenas need to be filled and, unsurprisingly, Boomers and Zoomers are willing to spend money to relive their youth.
But what about the bands that haven’t reunited yet? Oasis, The Jam, and Talking Heads are just a few of the names that fans wish would break their hiatus. Reuniting would mean a chance to top up their bank accounts and reminisce with fans who thrived on their music, but it’s easier said than done. With some members either reluctant to pump up the nostalgia factor or simply not getting along, the chances of a reunion are slim to none.
In the end, it’s clear that bands need to adapt to the changing industry landscape and find alternative revenue streams if they want to stay in the game.
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