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The point in the article about the new format helping lesser known artists really shows just how little U2 and Bono actually get about the current state of the music industry. Artists are getting completely screwed by labels and must tour by necessity to make money. In fact, with the huge growth in the festival industry, small acts (and large acts of old) can make significant chunks of money they otherwise wouldn't. To Bono's point, Cole Porter could tour and make lots of money doing it today. He may not have wanted to, but it'd be possible. A new digital format isn't going to change that.
> To Bono's point, Cole Porter could tour and make lots of money doing it today. He may not have wanted to, but it'd be possible
Was Cole Porter a performer? What I see after a bit of searching indicates he was a songwriter/composer, so what would be the attraction of a Cole Porter tour?
He was not a performer. He was a songwriter and composer mostly for Broadway and he was a great one. The draw would be something like "an evening with Cole Porter and his music" or "Cole Porter and his Broadway orchestra play his hits". You can imagine the marketing around hearing the music live, standing on its own. That kind of stuff makes money today, and lots of it.
The point in the article about the new format helping lesser known artists really shows just how little U2 and Bono actually get about the current state of the music industry. Artists are getting completely screwed by labels and must tour by necessity to make money. In fact, with the huge growth in the festival industry, small acts (and large acts of old) can make significant chunks of money they otherwise wouldn't. To Bono's point, Cole Porter could tour and make lots of money doing it today. He may not have wanted to, but it'd be possible. A new digital format isn't going to change that.