Tesla Is Still In Financial Turmoil In Spite Of Music Success

After more than 40 years in the music industry and selling over 14 million albums, you might think Tesla’s band members are living the high life. But guitarist Frank Hannon paints a very different picture. In a candid chat with Sonic Perspectives, Hannon revealed that the band’s relentless touring schedule isn’t just about keeping their music alive—it’s about making ends meet.

“We’re a lot older now, and we have to tour a lot to make a living,” Hannon explained. “We’re not rich. We never became millionaires.” He added that financial pressures have also influenced Tesla’s recent shift to releasing singles instead of full albums. “We still have to pay our bills. It makes more sense to write a song, put it out while it’s fresh, and enjoy it in the moment.”

The Pandemic’s Lingering Impact

Like many artists, Tesla felt the financial sting of the pandemic, which grounded their tours for two years. Hannon admitted the band is still recovering. “We took such a huge loss being grounded for two years that we’re still barely pulling ourselves out of that hole financially,” he shared.

But despite the challenges, Hannon has found a silver lining in Tesla’s new approach to creating and sharing music. “When we focus on a song like [their recent single] ‘All About Love’ or [2022’s] ‘Time to Rock!’ and just play it live while it’s hot, it just tastes better,” he said. “It’s like eating a meal straight off the stove—it’s freshest and best that way. For us, writing a song, making it happen, and then hitting the road with it feels great. Honestly, I like it better.”

Why Tesla Is Ditching Albums

The days of spending a year in the studio crafting a 10-song album are behind Tesla, and Hannon doesn’t seem to miss them. “Taking all that time and arguing over 10 songs that aren’t going to get their full due just doesn’t make sense anymore,” he said.

Instead, the band puts its energy into creating one or two standout tracks and letting them shine on the road. “The best way to create songs is to let them live for a while and try them out at shows,” Hannon explained. “It works better for us to focus on one or two songs, make them as great as they can be, and play them while they’re fresh.”

For Tesla, this approach not only keeps the music exciting for fans but also helps the band stay afloat in an ever-changing industry. And if there’s one thing they’ve proven, it’s that they’ll keep rocking, no matter the challenges.