About this episode
When you sign your first record deal, it’s usually for around seven albums…theoretically; this is to protect both sides… First, it offers the artist a degree of security…it gives the artist a few records to develop and mature so if they don’t score big with the first album, they’ll a little longer to establish their career and reputation… Second, the label has a chance to see if their investment in this act pays off…the label puts all kinds of money into the artist up front and therefore needs the artist to turn profitable as soon as possible so they can make that money back and start seeing a return… But a record deal is like a marriage…sometimes things go well and everyone lives together happily ever after…and sometimes (and for whatever reason), one party wants out…a divorce is in order… It was this second scenario in which Radiohead found itself at the beginning of 2005…they had fulfilled their end of the bargain to EMI Records: six studio albums, a live album, half a dozen EP’s along with at least four video releases…and now they wanted out… they had no wish to resign with EMI … But were their options?... Option (a): negotiate a killer deal with EMI with the hopes of signing a contract that addressed every single one of their concerts…but EMI was in trouble, the smallest and weakest of the major labels…the internet was killing the company and management didn’t seem to have a clue…it looked like they were determined to drive the label into the ground no matter what they did… Option (b) sign with another major label when it looked like the entire recording industry was melting down, again thanks to rampant piracy and the disruption brought about by the internet...in other words, a contract with another major might be no better than signing with EMI … But then there was option (c): go it alone and redefine what it would mean to be an “independent artist”…after thinking long and hard about it, Radiohead went with option (c)… Crazy idea…then again… Learn more about your ad choices. Visit megaphone.fm/adchoices