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Major record labels are a sinking ship

June 9, 2010

Major record labels are a sinking ship, according to Thom Yorke of Radiohead.

Yorke

Yorke made his comments in the Rax Active Citizenship Toolkit, due to be published in July 2010 by New Internationalist magazine for students of GCSE Citizenship Studies. in an interview recorded in February, he said: ‘When the corporate industry dies it will be no great loss to the world. So, I guess I would say, don’t tie yourself to the sinking ship because, believe me, it’s sinking.’

Radiohead were signed to EMI for 12 years but released their last album In Rainbows via their own website in 2007. EMI is now in a particularly precarious position, with major debts and restructuring issues following a takeover by private equity firm Terra Firma in 2007.

Yorke said the fate of new artists was ‘an obsession’ of bandmate Ed O’Brien, who is a leading member of lobby group the Featured Artists’ Coalition. ‘When we discuss it, he says it’s simply a matter of time – months rather than years – before the music business establishment completely folds. He is involved in trying to build a world where artists would finally get paid. But we are up against the self-protecting interests of that industry.’

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