from JAM! Showbiz

Hot off their Elevation 2001 world tour, the members of U2 are diving headlong into two new musical projects.

The band is currently working on a new studio album, as well as the soundtrack for the upcoming Martin Scorsese film "Gangs Of New York," according to reports in the U.K.

Quoting an interview in the magazine Hot Press, The BBC said Bono has revealed that U2 have assembled in Dublin, in a building that once housed a nightclub, to work on the follow-up to 2000's "All That You Can't Leave Behind."

"The band is so tight, coming straight off the tour. We've hit form," Bono reportedly told Hot Press.

Among the new songs being worked up is a track called "Electrical Storm," the report said.

Meanwhile, the concert industry publication Pollstar recently reported U2's Elevation Tour earned $109.7 million, making it the second biggest tour of all time, behind the Rolling Stones' 1994 jaunt, which raked in $121.2 million. U2's showing was well ahead of 2001's second-place touring band, *NSync, who brought in $86.8 million.

U2 are to perform during the half-time festivities at the Feb. 3 Super Bowl game in New Orleans. Launch.com recently reported that the band had also been invited to perform at the Winter Olympics. Although U2 haven't confirmed whether they will play the Salt Lake City games, organizers have reportedly already lined up Creed, Sheryl Crow, *NSync, and others to perform at each night's medal presentation. The Tragically Hip is also playing at a special show for Canadian athletes.

Scorsese's "Gangs Of New York" is one of the director's most elaborate productions ever, and his most expensive at $90 million. Leonardo DiCaprio, Cameron Diaz, and Daniel Day-Lewis star in the film, which recounts the saga of Irish and Italian immigrants in New York at the turn of the century. The movie is now scheduled for release in July.