Counting Crows frontman Adam Duritz announced on the band's website that they'll be leaving their label, Geffen, after 18 years. Although he didn't specifically say they won't be moving to another label, his explanation suggests that's the case.
"A lot of people think it's a tough time to be a band but we don't feel that way," wrote Duritz. "The internet opens a world of limitless possibility, where the only boundaries are the boundaries of your own imagination. We want a chance to push those boundaries back as far as we can. Unfortunately, the directions we want to go and the opportunities we want to pursue are often things that our label is simply not allowed to do."
Counting Crows may not be the huge sellers they were a decade ago, but they are exactly the sort of band whose sales have traditionally offset the risk (and losses) from new artists.
The fewer established artists the labels can keep, the less money they have to develop new talent. The less new talent they have, the fewer established artists they will have in the future.
As recently as ten years ago artists signed with a major label to expand their opportunities. It's telling that now they drop their labels for the same reason.
Counting Crows may not be the huge sellers they were a decade ago, but they are exactly the sort of band whose sales have traditionally offset the risk (and losses) from new artists.
The fewer established artists the labels can keep, the less money they have to develop new talent. The less new talent they have, the fewer established artists they will have in the future.
As recently as ten years ago artists signed with a major label to expand their opportunities. It's telling that now they drop their labels for the same reason.
