The members of Metallica haven't exactly been cashing in on their status of heavy metal royalty. A new book titled Into the Black claims that since 2010, the "Enter Sandman" group has most likely lost more money then it's made. The authors cited the band's two Orion festivals and the 2013 movie Through the Never as reasons for Metallica's poor financial state, Blabbermouth notes.
"Factor in HQ staff salaries, crew retainers and assorted running costs associated with maintaining an entertainment corporation and you can easily understand why the band—of necessity now rather than by choice—are driven to tour Europe every summer," the authors said.
According to Box Office Mojo, Through the Never had a production cost of $18 million. The film made a fraction of that back, bringing in $7.9 million in worldwide sales.
Drummer Lars Ulrich talked about the financial risk of the movie before it's release.
"I do know that we rarely consider other options, so compromise is not Metallica's major strength," he told The Quietus. "And I think that the fans hopefully appreciate that if its got the word 'Metallica' written somewhere on or near it, that it comes from us."
Metallica's Orion festival was "a disaster financially," according to James Hetfield. The fest took place in Atlantic City in 2012 and Detroit during 2013. Hetfield spoke to 94.5 The Buzz last year explaining that the concert landscape in North America hasn't been kind to metal acts in recent years.
"I'm not sure what's going on in the States as far as rock and metal goes and concert-wise, but there's not really any willingness to get a big show out there and make it worthwhile to actually get out there and play," he said. "You see other bands gathering up six different bands just to go out and play. It's pretty tough in North America."
The group is currently piecing together its next album.
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