Linkin Park Demand Release From Warner Bros

Discussion in 'News' started by Mark, May 2, 2005.

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  1. #1
    Mark

    Mark Canadian Beauty LPA Administrator

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    Linkin Park have demanded to be released from their recording contract with Warner Bros. Records. This stems from Warner's plans to develop an IPO (initial public offering), which is projected to raise as much as $782 million in profits.

    Linkin Park have taken this drastic step citing that this is the Warner owner's ploy to get rich, while not compensating or caring for their artists or label. The band say only $7 million of the profits Warner will make will go to the label's own music operations, with none being given to their artists.

    A press release presented by the band's management through BusinessWire cites; "The new owners of the Warner Music Group will be reaping a windfall of $1.4 billion from their $2.6 billion purchase a mere 18 months ago if their planned IPO moves forward. Linkin Park, their biggest act, will get nothing.

    Meanwhile, of the planned $750 million raised by an IPO, only about $7 million will be put toward the company's own operations, with no money going to WMG artists. Additionally, WMG has already seen a widespread reduction of its work force and substantial cuts in marketing and promotion expenditures. Linkin Park has become increasingly concerned that WMG's diminished resources will leave it unable to compete in today's global music marketplace, resulting in a failure to live up to WMG's fiduciary responsibility to market and promote Linkin Park.

    Linkin Park has been responsible for approximately 10% of the entire Warner Music Group's record sales, selling over 35 million records worldwide in just 5 years. After reading numerous and daily articles about how WMG executives and corporate raiders have ridden the coattails of the creative community to extract massive rewards, Linkin Park has become increasingly offended and discouraged.
    "

    It appears that the band were planning to start work on their new album soon, which was slated for a Spring 2006 release, but will now hold off until the problem is resolved. Linkin Park commented on the release of new material in the press release saying;

    "We couldn't be more grateful for the support we receive from all our fans around the world. We feel a responsibility to get great music to our fans. Unfortunately, we believe that we can't accomplish that effectively with the current Warner Music."

    Get ready for a long legal battle, people.

    Linkin Park have four albums left in their current ten album deal with WMG.

    Sources: BusinessWire, Yahoo!, Rolling Stone, USA Today.

    Thanks in part to Omar A and Ryan!
     
  2. #2
    Omar A

    Omar A Beyond Science LPA Super Member

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    Well i don't know if i'm happy or not. I hope they don't go sign with a label that won't promote them. I think WB did a good job at doing that.

    Oh and i hope the album is still getting released next spring. What label is releasing The Rising Tied?
     
  3. #3
    savetomorrow

    savetomorrow Well-Known Member

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    Could this delay the release of "Rising Tied"?
     
  4. #4
    $pvcxGhxztCasey

    $pvcxGhxztCasey meanwhile... LPA Addicted VIP

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    What label in their right mind wouldn't promote a band that sold 35 million records in 5 years? Come on. Even the smallest label ever would promote the shit out of Linkin Park. They're money makers. Whether they make shit music isn't irrevelant, any label will promote them. :p

    Personally, I hope they sign with Interscope.
     
  5. #5
    Paul

    Paul The Ultimate Victory LPA Super Member

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    Would this effect Machine Shop Recordings in any way?
     
  6. #6
    Ryan

    Ryan You Greasy Bastard LPA Super VIP

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    I tihnk this is great news. I tihnk it actaully shows that LP is more concerned aobut making music than money and dont't want anyone taking advantage of them for money. I dont see why they dotn just break their contract with Warner and get signed with another label. Sure it would cost them some money but I'm sure they could afford it and it would be worth it if thats what they want.
     
  7. #7
    Mark

    Mark Canadian Beauty LPA Administrator

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    I think 'The Rising Tied' will be released through Machine Shop. But I think Machine Shop is a subsidiary of Warner Bros vicariously through Linkin Park, so maybe it'll get pushed back. Who knows.

    They should break off, form their own record label, and release their own albums ala Trent Reznor and Nothing Records (I think).
     
  8. #8
    $pvcxGhxztCasey

    $pvcxGhxztCasey meanwhile... LPA Addicted VIP

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    Nothing was an imprint for Reznor to release his CD's through. He was still legally bound to Interscope though. But that being said, he also had a contract in which he could do as he pleased, so...
     
  9. #9
    Mark

    Mark Canadian Beauty LPA Administrator

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    Indeed. But he had creative control and look how awesome that turned out.
     
  10. #10
    $pvcxGhxztCasey

    $pvcxGhxztCasey meanwhile... LPA Addicted VIP

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    True. I don't get why Interscope gave him all that they gave him, but they did and the rest is history.

    Maybe in their next contract, they need to work something like that out. Surely 35 million records is incentive enough.
     
  11. #11
    blurredxnotes

    blurredxnotes Well-Known Member

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    Wow..

    That's interesting.
     
  12. #12
    Luke

    Luke Mind Your Manners. LPA Addicted VIP

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    Maybe Warner Bros have been smoking grass because they've got to be either out of their heads or total idiots for a move like this.

    10% of all their money was made by Linkin Park! Thats fucking alot! What bastards :angry:

    Hopefully this wont effect anything in the long term.If it does then Warner Bros must abandon all hope of survival past December 11th 2005 :lol: :angry: :shifty:
     
  13. #13
    Dean

    Dean LPA Addict LPA Addict

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    If it goes through it would be good from a fan's point of view. Hopefully Machine Shop and the band's signed to it would be able to move with LP.
     
  14. #14
    Sonic

    Sonic Searching for the last Chaos Emerald... LPA Super Member

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    This is, wow...I dunno what to say or think.

    I've always hated warner, but now that LP doesn't want shit to do with them I dunno if thats good or not. :unsure:
     
  15. #15
    Paul

    Paul The Ultimate Victory LPA Super Member

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    The good thing is that Linkin Park will have no problem finding another label.
     
  16. #16
    erasethepain

    erasethepain Well-Known Member

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    Maybe they've been wanting a release for sometime and they finally found a hole. Jay-Z's good at this, maybe he taught Mike a little something.

    If they had put out music themselves, imagine the money they would make. They could merge with Microsoft.
     
  17. #17
    Ant

    Ant Ambient

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    Errr.... wow. :unsure:
     
  18. #18
    Paul

    Paul The Ultimate Victory LPA Super Member

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    Does this mean that Linkin Park have already begun production on their next album along with Fort Minor?

    You can't forget about all the expenses they would have to pay off if they decide to do that. Thats the whole point in having a label.
     
  19. #19
    Glenn

    Glenn Super Member LPA Super Member

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    @ LP: Please don't sign up with Wind-up.
     
  20. #20
    erasethepain

    erasethepain Well-Known Member

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    Please don't sign with Roadrunner.
     
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