MUSIC NEWS - Despite U2's recent financial windfall with their Live Nation deal (see story on the $19M payout), the planned U2 "tower"on the Dublin waterfront has been postponed due to the world economic downturn. The $250M tower, with luxury apartments, retail shops and a studio "pod" at the top, was to be the tallest tower in Ireland and was announced in 2007 by Bono and band. It was designed by British architect, Norman Forster. The Dublin Docklands Development Authority is still committed to building the long-planned U2 Tower, but announced on Friday that a weakened economy in Ireland and around the globe dictates they have to delay. They hope to reopen negotiations with potential developers within twelve months. We also noticed that Brit singer, Alison Moyet recently cancelled her current US tour a few dates into it due to lackluster ticket sales (see her apology to her fans, here). Also, Coldplay frontman, Chris Martin recently expressed concern over ticket sales for US, UK, Asia
tour (see itinerary after jump). He believes that the live dates will be less popular than previous tours because music fans are less likely to spend money on luxuries like like concerts. You have has to wonder how consumers are reacting to the world economic crisis and if are they tightening up on how they spend their money on entertainment. Music downloads and cds remain a good deal at the price, but concert ticket prices have skyrocketed.
Are you going to fewer shows due to the economy ? Comment below...
Coldplay 08/09 Tour Itinerary (all dates subject to change)-













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