Apple Is Believed To Have Spent $100 Million On New U2 Album

Prior to the iPhone 6 event it was reported that iconic rock band U2 will be performing at the event. Even though one such report was rubbished just one day before the event it was reported once again that U2 will be present at the launch. Indeed it was. Once Apple was done with the announcement of its smartwatch the band was called out where it performed a song. A new U2 album was also announced at the event which Apple is distributing for free to all iTunes users, however several reports indicate that the company may have dished out as much as $100 million for the privilege.

Apple has dibs on the album until the first week of October after which Songs of Innocence will land on other online music stores as well as record shops around the world. It is currently exclusively available for streaming through iTunes Radio and Beats Music apart from being given out for free to over 500 million iTunes users.

The company is believed to be spending as much as $100 million just to market U2’s new album. This amount has been earmarked for marketing purposes only, Apple is believed to have dished out an undisclosed lump sum directly to the band.

While this marketing budget might seem too much for one single album lets not forget that Apple will likely be promoting its own products in the TV spots, billboards and ads that it puts out for Songs of Innocence. It’ll get to kill two birds with one stone while having the privilege to distribute U2’s new album exclusively until next month.

Adnan Farooqui
Categories: Apple, Audio
Tags: iTunes, U2