Placebo are a British alternative rock band formed in London in 1994, currently consisting of Brian Molko, Stefan Olsdal and Steve Forrest. To date, they have released six studio albums, six EPs and twenty-nine singles. The band have gained a considerable amount of international recognition, selling over one million albums in the UK and over ten million worldwide.

Placebo are best known for hit songs such as "Nancy Boy", "Pure Morning", "Every You Every Me", "Infra-Red", a cover of Kate Bush's "Running Up That Hill", and "For What It's Worth". Their style has varied greatly. The band's first album featured a raw sound and a fairly minimalistic instrumental lineup, but proceeding albums have had a slower, more melancholic tone, and they started experimenting with synthesizers and other, less traditional, forms of sound production (particularly after Black Market Music).

The band have gained some measure of notoriety for the sexualities of its members (Olsdal is gay, Forrest is straight and Molko is bisexual) as well as for their excessive lifestyles and Molko's androgynous image, which are often referred to in their songs.

Placebo were formed by singer/guitarist Brian Molko and bassist Stefan Olsdal. Earlier, both had attended the American International School of Luxembourg, but didn't cross paths properly until 1994 in London, England. At the time, Olsdal was taking guitar lessons and was on his way home, when he met Molko at the South Kensington tube station. Molko, observing that Olsdal had a guitar strapped to his back, invited Olsdal to watch him perform at a local bar. On the strength of Molko's performance, Olsdal decided that they should start a band. The two formed Ashtray Heart, a lo-fi duo, playing mostly on toy instruments. They wrote four songs, but decided to try out as a serious band and started to scout for a drummer.

Originally, the two were unable to decide on a drummer. Molko had some experience playing with Steve Hewitt, making him the ideal choice. However, Hewitt had prior commitments to the London band Breed, and only had time to play on occasional demos with Molko and Olsdal. This led Robert Schultzberg to assume the position of drummer when the band signed its contract with Caroline Records. Schultzberg had known Olsdal from boarding school in Sigtuna, Sweden as well as from an earlier Swedish band (Elevating Addiction) which they had both been members of.

As to the name "Placebo", Olsdal remarked in an MTV interview that it was chosen because of its Latin origins; “placebo” literally translates from Latin as “I will please". Frequently in interviews, Molko has stated that the name is a satirical reflection of the 1990s cliche of naming one's band after a drug, though Olsdal claims this was not the original motivation for naming the band "Placebo". When asked about naming a band, Molko said:

Placebo's self titled debut album was released 16 July 1996 and was a major success, peaking at five on the UK Albums Charts at the height of the Britpop era. Placebo featured ten tracks (eleven including the hidden bonus track "Hong Kong Farewell"), their most popular being Nancy Boy. In 1998, Q Magazine readers voted the Placebo album the 87th greatest of all time. The band remastered and reissued the album on 18 September 2006 for its tenth anniversary.

Tension with Schultzberg began to rise. The band initially let him go in September 1995, but he was rehired to record the first seven inch single "Bruise Pristine". After an argument in August 1996, right before doing their first TV show, Molko decided that it would be best for the band if Schultzberg left. But Schultzberg suggested playing together until they finished the promotion of their first album, Placebo, and the band accepted.

Eventually, Schultzberg did indeed leave the band in September 1996, on a United States tour. Before going on stage for their first show in New York state, Olsdal informed Schultzberg that he wasn't going on the tour in Germany that was following the US one. At the manager’s request, Schultzberg did two more shows with the band in Paris after the US tour, the last of which was a performance on “Nulle Part Aillleurs”. Molko has said that he was "tired of being the focus of Robert’s rages against the world." While Schultzberg was with the band, several early works were recorded including their first 7" single "Bruise Pristine", the "Come Home" EP, the single version of "Nancy Boy" with B-sides "Slackerbitch", "Miss Moneypenny", "Bigmouth Strikes Again" and their eponymous debut album. On the track "I Know", Schultzberg played didgeridoo as well as drums. His departure left many fans disappointed, because the band switched to a softer sound in the proceeding albums. In the same year, however, they were able to convince Hewitt to return to Placebo as their full-time drummer. Molko remembers: “Even at the beginning, Robert and I couldn’t be in the same room with each other without wanting to be violent."

In early 1996, Placebo opened several concerts for David Bowie in Italy, France, and Switzerland as part of his Outside Tour after he had only heard one of their demos. Bowie also invited the trio to play at his 50th birthday at New York's Madison Square Garden in 1997. The party also included luminaries such as Billy Corgan of Smashing Pumpkins, Robert Smithof the The Cure, and Lou Reed.

The band's glam connections continued. In 1998, Placebo recorded a cover of T.Rex's "20th Century Boy" for the Velvet Goldmine soundtrack. The band also had minor roles in the film. Bowie made a special appearance on-stage with Placebo during a tour stop in New York. A version of the song "Without You I'm Nothing", which originally appeared on the album with the same name, featured a duet containing both Molko and Bowie. Placebo played "20th Century Boy" live with David Bowie at the BRIT Awards show in 1999.

The first two singles from Without You I'm Nothing, "You Don't Care About Us" and "Pure Morning", were the peak of their British success, both charting in the top ten. Since Without You I'm Nothing, the band have received less positive coverage from the British music press who, on occasion, have mocked the perceived pretension of front-man Molko. However, the band has retained a huge popular and critical following in continental Europe. By way of their English-accented fluent French front-man, France has become their first target market in Europe, which has led to them gaining a huge popularity there, even in excess of their British fan base.

The band's third release, Black Market Music, added hip-hop and disco elements to their tense rock sound. The UK saw a release date of October 2000; US fans were treated to a re-sequenced version that autumn. The US version featured a slightly different track listing, adding the aforementioned Bowie version of "Without You I'm Nothing" and the band's cover of Depeche Mode's "I Feel You". The recording spawned additional UK hits such as "Taste in Men" and "Slave to the Wage".

Placebo encountered resistance from the British music industry upon release of the single "Special K" due to its reference of a ketamine high as a simile for love. The song was released in Australia as a single before eventually being made available in the UK as an EP featuring the B-sides and remixes that would have filled out a conventional two-disc single release. At the time the band claimed this was due to dissatisfaction with the two-disc single format, a claim somewhat undermined by their subsequent single releases all being made available in two-CD formats accompanied by a 7" vinyl.

Their style altered little from Placebo to Black Market Music, based around fairly straightforward guitar playing, often influenced by the style of 1970s British and American rock, and Molko's high-pitched vocals. The first single for the album, "Taste in Men", was one of their most popular, with a trance synthesiser in the background and wailing distorted guitars.Black Market Music did not receive the same level of long term recognition and media hype as Without You I'm Nothing did, but its peak sales outperformed those of its predecessor, in both the UK and France.

In spring 2003, Placebo showcased a harder edge with the release of their fourth album, Sleeping with Ghosts. The album went to number 11 in the UK and sold 1.4 million copies worldwide. Australian tour dates with Elbow and UK shows with Har Mar Superstar followed in 2004. Sleeping with Ghosts was more adventurous than Black Market Music, because it experimented with dance tunes, electronic music and a less rocky—more polished—guitar sound, though it kept the traditional sound for several songs, including the first single "The Bitter End".

In autumn of 2004, Placebo's singles collection, Once More with Feeling: Singles 1996-2004 was released (on both CD and as a DVD featuring the band's videos). The nineteen song compilation included their biggest UK hits and the new track "Twenty Years".

That same year, they played a one-night-only gig at Wembley Arena. In which, Robert Smith of The Cure made a guest appearance 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 2 July 2005, the group performed "Twenty Years" and "The Bitter End" at the Live 8 concert, at the Palais de Versailles in France (see Live 8 concert, Paris). Their 2006 tour of the UK sold out in one weekend.

There was a bit of controversy while the band was on their promotional South American Tour. As revealed on the Once More With Feeling DVD Extras, whilst on tour in South America, Placebo and Limp Bizkit played on the same evening. Trouble occurred when Placebo's manager would not let Fred Durst on stage as he did not recognise him and thought he was simply a fan trying to get an autograph. After eventually getting on stage, Durst began the chant "Placebo sucks". Later, Placebo's roadie Adam Okrasinski was charged with aggravated battery when he allegedly punched a member of Durst's entourage in an altercation that took place after the show between members of both band's camps. Charges were later dropped in lieu of community service.