If you have anywhere from $625,000.00 to $700,000.00, you could be the new owner of Sympathy For The Record Industry, one of the most respected and long-running indie labels in the US.
In these tough times, it appears that having released music from artists including The New York Dolls, The White Stripes, Hole, Turbonegro, Rocket From the Crypt, and countless others... just isn't profitable anymore. I mean, of course it is. That's why they're selling it.
Part of the release says:
includes:
-- questionable/nebulous rights to nearly 750 releases by over 550 bands
-- current distribution deal with foremost U.S. independent distributor with strong international distribution as well existing -- stock modestly estimated at a wholesale value of 1.8 millon dollars
-- all master tapes, acetates, stampers and mothers to continue production of titles
-- massive personal archive of sympathy rarities (lots of amazing surprises)
-- preliminary cover layouts/some original artwork/interesting and valuable artifacts galore
-- established web site and vastly lucrative mail order business
The label's full "resume," so to speak, is available over on MySpace. How about we all chip in? I think I have $10.57 in my wallet right now... which will probably be more like $7.07 after I buy my rice and beans for lunch, but it's a start....
In all seriousness, this is a pretty sad thing. I'm hoping a larger-scale indie label has the cash and throws down to just sort of keep things going because these guys gave a lot of good bands their start... and to see them just selling the label because times really are that tough, is kind of shocking and sad.
Here's hoping whoever gets the really rare stuff treats it with the respect it deserves....
