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Following in the footsteps of Matthew Good and Radiohead, Nine Inch Nails frontman Trent Reznor announced today that he has come to the end of the downward spiral. He has fulfilled his contractual agreements with Interscope and will see if he can avoid the middleman and allow his audience to deal with him in a more intimate arrangement, he said on nin.com.
Hello everyone. I've waited a LONG time to be able to make the following announcement: as of right now Nine Inch Nails is a totally free agent, free of any recording contract with any label. I have been under recording contracts for 18 years and have watched the business radically mutate from one thing to something inherently very different and it gives me great pleasure to be able to finally have a direct relationship with the audience as I see fit and appropriate.Although this is good news for Trent, his fans, and other artists who are in the position to deal directly with each other, it's hard to believe that the major labels care. They probably feel like they've gotten nearly two decades of his best work, now it's time to exploit the newbies.Look for some announcements in the near future regarding 2008.
Exciting times, indeed.
Meanwhile, if Donald Trump really wants to get the Apprentice going again, how about one where one team gets to be Radiohead's label for 4 months while the other team gets NIN for 4 months. Now that's tv we would watch.
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Pretty hard to imagine Interscope doesn't care about losing an act that has sold 12 million CDs. Even if their heyday is past, you can pretty much count on a NIN album going at least gold if not platinum, no small feat nowdays.
Dumb as they are, I'm sure major labels are fully aware that they have no idea how to break new bands in the new climate, and are hardly excited about "exploiting the newbies" that will never sell enough music to even break even for Universal/Any Other Major.
I read about this earlier tonight -- I'm glad you wrote something on it. It's pretty clear that this is going to be a continuing trend with bands fulfilling contracts. I wonder how it's going to ultimately affect bands that are looking to sign and get into the industry -- I wonder if more of them are going to try and go independent, hoping for the success (hopefully) of Radiohead's new album, and what Matthew Good will do with his next album.
Yep, they already are.