Metallica Owns it All
12/3/2012 2:53:00 PM
Proof that you can have your cake and eat it too, even in today’s crazy music industry climate, Metallica have done the impossible… They now own their entire catalog of master recordings and have started their own record label – Blackened Recordings.
"We would like to thank everyone at the Warner Music Group for 28 years of a fantastic relationship, particularly since 1994 where we truly felt we had partners in every aspect of our business in North America," said James Hetfield.
What this means is pure independence for the band. They call their own shots. They make their own money. They control all of their own music, past, present, and future, and all of their own long form videos. Seriously, this is unheard of in the biz.
"It's always been about control for us as a band," said Metallica's Lars Ulrich. "Forming Blackened Recordings is the ultimate in independence, giving us 100% control and putting us in the driver's seat of our own creative destiny."
You see, under a provision of their renegotiated joint venture agreement with Warner Music Group back in 1994, all masters reverted back to Metallica as of November 30th, 2012. Somewhere there is a record label head banging his head on the desk.
So, everything will come out on Blackened Recordings now, and I bet that has the band very excited. Who’s to blame them? Nobody likes being told what they can and can’t do, especially those of us who play rock and roll.