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The legendary band are said to be considering heading back out on the road to celebrate their 60th anniversary.
And a world tour could net them £300million, industry insiders estimate.
Guitarist and founder Pete Townshend, who famously did not like touring, has found a new enjoyment of being on stage – and doesn’t want his concert life to end.
The 78-year-old has confirmed he is meeting lead singer Roger Daltrey to discuss plans for 2024.
Roger, who his 80 in March, has reflected on the tough nature of live work as he ages, both on his voice and body.
But industry insiders say “a 60th anniversary tour would be a milestone moment to celebrate one of the most influential and greatest UK bands of all time”.
The Who enjoyed an acclaimed run of performances over the summer, which saw Pete and Roger accompanied by a full orchestra. The short run ended in August with the band going quiet on the future, as Pete is also busy with an opera project.
The Londoner admitted: “I think it’s time for Roger and I to go to lunch and have a chat about what happens next.”
He said last summer’s tour “shouldn’t feel like the end of anything”.
The Grammy and Brit award winner added: “It’s a question of, really, what is feasible, what would be lucrative, what would be fun? So I wrote to Roger and said, ‘Come on, let’s have a chat and see what’s there’. I’ve never really enjoyed touring at all, but this last couple of bashes – the UK tour, the shows in Europe and the American tour in 2022 – I admit I started to get a real feeling of fulfilment.”
In an interview with Record Collector magazine, Pete added: “I feel very lucky to still be doing this at my age, to still be able to perform.”
The rock opera the songwriter is creating is based on his 2019 novel The Age of Anxiety.
He describes the project as “my really big magnum-opus piece,” adding he hoped to have it finished this year.
The rocker has also revisited Life-house, a concept album that he abandoned in 1970, which has now been re-imagined as a graphic novel.
Talk of the iconic group touring again has the industry excited.
A source said: “The Who going out on the road for a 60th tour would be a massive event for the business.
“Venues and fans around the world will be clamouring for them to stop at their cities.
“It truly will be a unique experience and perhaps the last chance for them to tour the world. Obviously that is all down to what the two men want to do, but the offers will be there.
“It is no underestimation to say they could earn well over £300million from a series of big stadia shows, and double that if they went out into 2025.”