Not so mysterious ways: Bono says tech start-ups are the new rock bands

U2 frontman Bono described start-ups as the new rock bands and defended streaming service Spotify from recent criticism at an internet event in Ireland on Thursday. The singer called for greater transparency in the music business to allow the shift to digital music to “be successful and to take root.” He defended music-streaming site Spotify, which has been criticised by some artists and record labels who argue they earn little revenue from streaming, saying 70 percent of revenues go to rights’ owners.

One of the things I love about being at the summit is all these people remind me of being in a band. The same kind of people that would be in bands are now forming start-ups.

Bono, U2 frontman

It came after US singer songwriter Taylor Swift removed her music from Spotify after the release of her new album 1989, which went on to become the fastest-selling in the US in over a decade. Swift did not announce a reason for the decision, but earlier this year urged musicians not to give their music away for little or nothing, writing in the Wall Street Journal that “valuable things should be paid for”. Bono did just that in September when a digital copy of U2’s new album “The Songs of Innocence” was automatically downloaded onto Apple’s half-billion iTunes accounts around the world, causing a backlash and forcing him to apologise.

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