TVT RECORDS BITES THE DUST

New York-based record label TVT Records announced last night the firing of most of its staff, and is expected to file for Chapter 11 bankruptcy this week according to a report on Billboard. TVT was an early home to Nine Inch Nails (check Reznor’s blog for his feelings on this news), and also launched the careers of Sevendust, Nashville Pussy, Gravity Kills, Vision of Disorder and Course of Empire. In recent years the label had leaned decidedly more hip-hop with high-profile acts like Lil Jon and The Ying Yang Twins, but kept a hand in a mainstay of mediocre alt-metal bands such as Default, Bobaflex and Nothingface.

Apparently several of the label’s artists had beef with president Steve Gottlieb, including Lil Jon in 2005 and recently Pitbull, who asked his fans to download his new album for free.

Now, I don’t think anyone who reads this site is going to miss TVT all that much — but the larger issue affects us all, namely that news of any record label folding is troubling. Amidst all the negative press record labels get these days, let’s not forget that they still pay for recording, mixing, producing, music videos, artwork, website design, money for the band to live on and buy equipment with, etc. And though their economic models by and large aren’t fitted for saints, they’re still the ones in charge. And it’s especially troubling that a smaller label like TVT is folding when it’s these smaller to mid-sized labels that supposedly have a more viable business model. So who pays for launching bands’ careers in the future? Live Nation? You got me.

-VN