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Placebo is an alternative rock band consisting of Brian Molko, Stefan Olsdal and Steve Hewitt. Placebo was founded in London in 1994 when Brian and Stefan, who went to the same school but apparently never spoke, met again by chance in London and subsequently formed 'Ashtray Heart'.

Placebo was founded when former Luxembourg schoolmates Brian Molko and Stefan Olsdal met by accident at South Kensington tube station in 1994 and decided to form a band. They attended the European School of Luxembourg.

While briefly known as Ashtray Heart, Placebo quickly settled on the name Placebo - when they were choosing a name for the band, they noticed that many bands at this time had a drug name. So Placebo decided to name the band after the drug that doesn't work. Placebo could not decide on a drummer at first with Steve Hewitt and Robert Schultzberg alternating on the spot. While Hewitt was the preferred choice, he also had other commitments as drummer for London band Breed, leading to Schultzberg being the drummer when Placebo signed its contract with Caroline Records. Placebo officially says "personal demons" were the reason for his absence. As Brian was having difficulty getting on with Robert, they persuaded Hewitt to rejoin Placebo in 1996.

The singles "Nancy Boy", from Placebo (1996), and "Pure Morning", from Without You I'm Nothing (1998), were the peak of their Placebo's British success, both charting in the top ten. Since Without You I'm Nothing Placebo have received less positive coverage from the British music press, who on occasion have mocked the perceived pretentiousness of its lead member, Brian Molko. However, Placebo retained a huge popular and critical following in continental Europe. By way of their English-accented fluent French, France has become Placebo's very first target market in Europe - which has led them to gain huge popularity there, in excess of even their British fan base.

Placebo's style altered little from Placebo through Black Market Music (2000), based around fairly straightforward guitar playing, often influenced by the style of 1970s British and American rock, and Molko's high-pitched vocals. Sleeping with Ghosts (2003) was more adventurous, experimenting with dance tunes, electronic music influences and a less polished rocky guitar sound, though keeping the traditional sound for several songs, including the first single "The Bitter End".

Placebo was asked to play at David Bowie's fiftieth birthday party at Madison Square Garden. Placebo played "20th Century Boy" live with David Bowie at the BRIT Awards show in 1997. Placebo's glam connections continued in 1998 when Placebo recorded a cover of T. Rex's "20th Century Boy" for the Velvet Goldmine soundtrack. Placebo also appeared in this film. In the same year, Placebo's peak album Without You I'm Nothing was recorded and released. The song "Without You I'm Nothing" from this album has had a version released in which David Bowie duets with Molko.

In the autumn of 2004, Placebo released the Singles Collection Once More with Feeling (on both CD and as a DVD featuring the band's videos) and played a one-night-only gig at Wembley Arena. Robert Smith of The Cure guested with them on two tracks, "Without You I'm Nothing" and a cover of the Cure's "Boys Don't Cry". This performance was to be their last UK gig until 2006. After the Wembley gig, Placebo went on a short "Once More With Feeling" tour in South America. On July 2, 2005, Placebo performed "Twenty Years" and "The Bitter End" at the Live 8 concert, at the Palais de Versailles in France. Placebo's 2006 tour of the UK sold out in one weekend.