Don't let the fact that U2 gave away their new album, Songs of Innocence, to roughly half a billion iTunes subscribers last week make you think they believe in free music. Just the opposite -- which is why the band has partnered with Apple to develop a new digital music format.
The idea, Bono tells Time magazine, is to create a new digital format that's so fresh, cool and irresistible, folks will want to pay for songs and albums, which in turn will make it possible for songwriters to once again make a living from their craft. Bono says it'll not only help established artists, like U2, but also the little guys. "Songwriters aren’t touring people," he says. "Cole Porter wouldn’t have sold T-shirts. Cole Porter wasn't coming to a stadium near you."
No details yet about the new technology, or when it might be available.
U2 is featured on the cover of Time's next issue.
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