Pete Townshend Gives Real Talk On Making Money On Music
Pete Townshend in an interview with Rolling Stone magazine - Rolling Stone / Youtube
In the shimmering world of rock stars and glittering careers, Pete Townshend of The Who offers a dose of reality. He challenges the common myth that being a renowned musician automatically fills one’s pockets with endless cash. Backing his argument with personal anecdotes and industry insights, Townshend dives into the not-so-glamorous part of music fame.
The Harsh Realities of the Music Business
The music industry has seen its fair share of changes, especially with the digital age rewriting the rules of the game. Nowadays, seeing rock stars as super-rich icons living off their music might seem outdated. Despite the glamorous image plastered across social media and tabloids, the truth is that only a select few at the pinnacle really hit the jackpot. The rest? They’re navigating through the complexities of streaming services and fleeting attention spans, questioning the financial viability of producing new albums.
Townshend, with decades of experience with The Who, knows all too well about the business’s darker sides. “Haha! It’s never been about the money. The Who never made any money from fucking records anyway. Our managers were criminals. I’d never seen a Who royalty statement prior to our first audit, which we did while we were making Quadrophenia,” he reveals.
The revelation shocks but doesn’t surprise those familiar with the industry’s often harsh realities. Townshend sheds light on the harsh consequences of trusting the wrong people: “It emerged that Kit Lambert [former manager of The Who] had stolen all of my Italian publishing royalties to buy himself a palace in Venice. There are black swans in our business, and they’re the ones that always mop up all the money.”
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Finding Joy Beyond Wealth
One might expect bitterness or regret from someone who’s experienced such betrayal. Yet, Townshend’s perspective is refreshingly positive. He recalls a poignant conversation with Jimi Hendrix, offering a rare glimpse into the vulnerabilities hidden behind the facade of stardom. “Look at the legendary Jimi Hendrix, I saw him in LA in the last two weeks of his life. He was happy, he was really nice to me, and he hadn’t been always in the past. I said, ‘How you doing?’ and he said, ‘Pete, I’m broke.’ He was huge, and he was broke. [But] we didn’t give a fuck about the money.”
The story paints a picture of Hendrix that many may not recognize—a superstar grappling with financial struggles yet finding happiness beyond his bank account. It underscores a shared sentiment among some musicians: the pursuit of art and expression over wealth.
Townshend hasn’t let his experiences in the industry tarnish his love for music or life. “I lived in a little house in Twickenham by the Thames, I was happy to be by the water. I had one car. I had a tiny little studio, I was really happy. I had a beautiful wife, lovely kids, great friends, and never wanted for anything really, except some time to myself and some time to have with my family.”
Today, he appreciates the simple things—health, companionship, and the chance to inspire the next generation. “So today, I’ve got a sense that I’m lucky to be here and be fit enough to walk around the block and to work with younger musicians, to do some producing and mentoring.”
