Capitol Records Fallout…

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Pictured (bottom): Annie Stela

Brooklyn Vegan has been closely monitoring the fallout of EMI‘s merger of Capitol Records and Virgin Records, with an “…anonymous, yet reputable tipster” reporting that 30 acts will be dropped from Capitol and four from Virgin:

Other artists rumored to be among those dropped [besides Kevin Devine]: The Dandy Warhols, Sound Team, Shout Out Louds, The Redwalls, Otep, Fischerspooner, The Vines, and Airbourne.

Employees are going too. Possibly Jax.

More after the jump.

Morningwood, Corinne Bailey Rae, The Decemberists, OK GO and Lily Allen are likely safe. Moby‘s future is uncertain.

Meanwhile, there’s the saga of the LA-based singer-songwriter Annie Stela (MySpace), signed to Capitol Records and whose debut album Fool had been been in the works for three years. Unfortunately, the month it was finally scheduled for release was when the shit hit the proverbial fan, and as of this writing, it’s still in a state of limbo.

She blogged on January 13th:

…my debut album, Fool, will unfortunately not be in stores on January 23rd. My label, Capitol Records, has a parent company called EMI, who are in the midst of reporting a financial warning, laying off their two chairmen and potentially many other employees of Capitol (a financial warning, I’m told, means they’ve lost money the past two years and their shareholders are probably pissed). What this means is we’ve decided to see how all of this plays out before releasing my record so it doesn’t affect it…so yes, it sucks…but it will be best in the end.

She added on January 23rd:

…please know that there is no one who is more disappointed about this than me…I want nothing more than to get that record out and in all of your hands, and if there was ANYTHING I could do to change this situation I would. We have been working very hard to change this since the moment we knew the record was not coming out. If I could do any of the things Brandon suggested in his post without breeching my contract and getting sued for money I don’t have than I would in a second. Do not think for a moment that this delay isn’t something that saddens me greatly. Do not think for a moment that it was my idea.
If you’re upset, I urge you to please write Capitol or EMI…ask them what’s up and let them know you are not happy.

Stela opens for Bright Eyes (MySpace) at The El Rey Theatre on March 8th.

UPDATE: Kevin Bronson @ Buzz Bands offered his perspective:

…there are a lot of good bands on their own now. Unconfirmed word is that the list of free agents includes the likes of the Dandy Warhols, Shout Out Louds, Otep, the Vines, Airbourne, Sound Team, the Redwalls, Skye Sweetnam, Fischerspooner, Kevin Devine, Reeve Oliver, Melissa Auf Der Maur and Annie Stela (who is opening for Bright Eyes tonight at the sold-out El Rey Theatre show). There are probably more, but those names alone might make a pretty sweet roster for a mid-sized indie. “If the bands are OK with doing the indie thing,” one rep for an indie label says.

It will be interesting to watch the performance of Capitol’s keepers — big sellers Relient K and Yellowcard have new albums on the horizon. Also among those still around, and not many surprises here: Hurt, Street to Nowhere, OK Go, Mims, Corinne Bailey Rae, Saosin, Chingy, Lily Allen and the Decemberists.

Wouldn’t be surprised if Virgin pared its roster too — whispers are that locals Ima Robot and Over It have been dropped.

(Capitol Records photo courtesy of Brian Wallace.)

2 Replies to “Capitol Records Fallout…”

  1. Interesting DB…but when have they ever been accused of that? Whenever there is a buck to be made friendships end. Its business, not art that motivates them.

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