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A rep for the band has denied previous reports saying the yet-to-be-titled album has been pushed back to 2015.
The rep for the Irish band says that the highly-anticipated new album 'is planned for this year [and] is still on track.'
The Irish band is spending more time in the studio to work with producers Ryan Tedder and Paul Epworth for their upcoming album.
The song, which serves as the soundtrack to 'Mandela: Long Walk to Freedom', is also nominated for Best Original Song at the awards show.
With Bank of America donating $1 for each song downloaded, the Irish band has generated more than $3 million to fight AIDS, tuberculosis and malaria.
U2's frontman, Bono, has explained that the new song will be featured in their new album but won't be the first single.
After being unveiled in a (RED) and Bank of America ad that will air on February 2, the Irish band's new song will be made available for free download on iTunes.
The Irish band, who plays together on a stage for the first time in four years, performs 'I Will Follow', 'Desire' and 'Vertigo' to guests like Michael Douglas, Gwyneth Paltrow and Idris Elba.
Golden Globes 2014: Jennifer Lawrence Is Best Supporting Actress, 'Ordinary Love' Wins Original SongJanuary 13, 2014 09:01:45
The 'American Hustle' actress brings home Best Supporting Actress in a Motion Picture trophy, while U2's 'Ordinary Love' for 'Mandela: Long Walk To Freedom' wins Best Original Song.
Bono and his bandmates, who left Island Records seven years ago, are 'going back to their spiritual home' after the label made a change in management.
The Bono-fronted band came up with the song, written and recorded for 'Mandela: Long Walk to Freedom', after watching cuts of the film over the summer.
Frontman Bono says his band are working on their 13th studio set which they might call '10 Reasons to Exist'.
This year's list is made up of an international ensemble and shows that most musicians still make a big part of their earnings from touring.
Jigga serves as an executive producer for the latest installment of the basketball gaming franchise, nabbing Coldplay, Daft Punk, P. Diddy and Santigold among other artists for the soundtrack.
The Bono-fronted band rule both lists of the world and U.S top-grossing tours of the year, while the 'Speak Now' hitmaker scores the second-biggest seller in the States.