Billy Corgan on the Return of Rock, Standing By Marilyn Manson & Outlasting His Haters - BUZZFEED INC

Financial Performance: No specific financial metrics (revenue, profit, cash flow) are disclosed as this is a cultural podcast interview rather than a corporate earnings call. The discussion highlights the commercial success of the Smashing Pumpkins' reunion tour ("sold out business shows") and the operational success of Corgan's ancillary businesses, including a tea house and a wrestling company.

Guidance and Future Outlook: Corgan expresses strong confidence in the band's current trajectory, noting a "revitalized" state with organic energy and a "whole" lineup. He indicates a future focused on performing a balanced setlist of hits for new fans while continuing to "beta test" new musical directions. Long-term goals include maintaining songwriting integrity into his "elder life" and potentially releasing archival footage, specifically the unreleased final show from 2000, once the Machina box set reissue cycle is complete.

Business Segments and Product Lines:

• Music & Touring: The band is currently on the "Rats in a Cage" tour celebrating 30 years of Melloncollie, featuring collaborations with artists like Olivia Rodrigo and Sombra.
• Media Production: Corgan hosts "The Magnificent Others" podcast on YouTube and other networks, aiming to provide authentic, backstage artist-to-artist conversations.
• Merchandise & Ventures: Ownership of a tea house and a wrestling promotion are mentioned as current successful business ventures.

Market and Competitive Landscape: Corgan argues that the "alt-rock" market has undergone a cyclical resurgence driven by Gen Z fans seeking the angst and authenticity missing from modern pop hegemony. He critiques the "Pitchfork generation" and media gatekeepers for previously suppressing guitar-driven music in favor of polished pop and social-media-friendly content. He notes a shift where current pop stars (e.g., Olivia Rodrigo) are actively embracing the "OG vibe" and songwriting complexity that was previously marginalized.

Risks and Challenges:

• Legacy Perception: Corgan describes a 25-year period where critics and fans dismissed him as a "sellout" or "uncool" for playing hits and embracing pop elements, creating a sense of isolation and professional struggle.
• Mental Health: He openly discusses past suicidal ideation, severe anxiety, and the pressure of public life stemming from childhood trauma and family dynamics.
• Public Scrutiny: He faces ongoing criticism for past political commentary (Info Wars/Conspiracy theories) and complex personal relationships with controversial figures like Marilyn Manson.

Management Commentary and Tone: The tone is highly personal, defensive yet reconciled, and philosophical. Corgan displays a shift from a combative "heel" persona to one of gratitude and spiritual grounding, attributing his resilience to faith and family. He maintains a strong belief in his own artistic value, rejecting external validation from critics while acknowledging the importance of connecting with a new generation of fans who lack the historical baggage of 90s music journalism.

Analyst Questions and Answers:

• Q: Why the resurgence of 90s rock with Gen Z?
  • A: Corgan attributes it to a search for "commensurate" sounds for teenage angst in the age of social media, contrasting the "inorganic" nature of modern synth-pop with the raw emotion of the 90s.
• Q: Have your views on pop and critics softened?
  • A: He has moved from opposition to collaboration, realizing that artists like Olivia Rodrigo are successfully reintegrating the "alt" ethos into pop, validating his songwriting approach.
• Q: How do you handle relationships with controversial peers (e.g., Manson)?
  • A: Corgan relies on personal knowledge of the facts (e.g., the lack of charges against Manson) and a philosophy of rehabilitation and forgiveness, noting deep family ties (Manson's wife's twin is married to Corgan's brother-in-law).
• Q: Why haven't you released the final 2000 concert?
  • A: Timing was not right; it will likely be released following the Machina box set to properly cap the era.

Other Key Points:

• Personal History: Corgan reveals a childhood incident where a school test identified him as a "musical savant," but his father refused to pay for the recommended music lessons, contributing to his lack of formal training.
• Family Influence: He credits his wife and children with grounding him, allowing him to move past the "win or lose" mentality of his early career and find stability.
• Industry Critique: He argues that the music industry and media have become overly performative and marketing-focused, stripping away the "messiness" and "dissonance" that made alternative music valuable.
• Future Projects: Corgan is exploring the possibility of creating his own chocolate brand, citing a desire to create unique, high-quality products.