I think the song speaks about the band or maybe the singer realizing there mistake of making a deal with the devil for example before this song they were kings of music charts adorned by sooo many now we rarely hear from them after this song “I used to rule the world seas would rise when I gave the word now in the morning I sleep alone”

And how if they don’t follow what the devil wants they won’t be successful “ listen as the crowd would sing now the old king is dead long live the king” how he can make it be ur number one to nothing just like that “ one minute I held the key next the walls were closed on me” how easy it is for him to replace them And the band/singer realizes the devil offered empty promises and they all fell away “ and I discovered my castles stand upon pillars of salt and pillars of sand”

Then they are hearing the call back to god and to turn away from the devil with” I hear Jerusalem’s bells are ringing” and everyone saying to forget god and to laugh at him reminds me of when the Roman’s sing with glee about Jesus dying” Roman cavalry choirs are singing” And then asking for gods love and protection from the devil “be my mirror, my sword, and shield”

And then talking about how the devil made it so easy once they sold there soul” it was a wicked and wild wind blew down the doors and let me in”

And how there family and friends didn’t recognize them any more” people couldn’t believe what I had become”

And then the realization that he is damned to hell “I know saint peter won’t call my name”

So idk but that’s what I hear and there are soooooo many examples with other songs I would love to talk about hmu if u want.