Legendary music manager Paul McGuinness has dismissed claims that changes to the record industry have hurt the chances of finding “the next U2”.

McGuinness was U2’s manager for 35 years, stepping down in 2013 after selling his Principle Management firm to Live Nation. The band are now managed by Guy Oseary, who also represents Madonna.

In an exclusive chat with Music Week, McGuinness responded to suggestions that the instantaneous nature of the streaming revolution could hinder the development of future ...