Seven years ago (2010), Artery Recordings was founded by Eric Rushing. The label which includes current and former artists such as Attila, Bury Tomorrow, Chelsea Grin, Kublai Khan and more has been acquired by Warner Bros. According to Alternative Press, the entire staff including President Shan Dan Horan, has been removed from the company following Warner’s purchase. The future of the label itself remains unclear, along with the artists. Groups including Capture (formerly Capture the Crown) and Slaves both have albums expected to be released and both are rumored to going through Warner.
Horan informed the Alternative Press:
“To address the rumors, yes, Artery has sold to Warner. I can’t disclose too much about the deal, but building up this company to a million record sales in just five years is a tremendous accomplishment for the fans, our artists and the team. I’m humbled and appreciate each and every band I’ve ever had the honor of developing at Artery Recordings. As we hand over the keys to Warner, I’m not quite sure their plans for the label or catalog, but I hope they keep the legacy alive. With new Slaves and Capture albums on the horizon, I’m sure the fans will be ecstatic. “
Last week, we speculated the age of streaming music for free will eventually come to an end. a bullish report from Music Business Worldwide looks at a report from Goldman Sachs that finds global revenues from streaming will hit $28 billion by 2030, which is a 500% increase from what it is now. That will probably lead to a lot more of the majors acquiring smaller labels, since streaming will continue to be a revenue generator, Goldman analysts suggested majors such like Sony and Universal, and of course Warner Music will receive “about 55-60% of royalties for every piece of content that is being monetized.” That’s likely behind the reason Artery sold to Warner, and it’s probably not the last time you’ll hear about an indie label selling to a major.
While we are used to getting music handed to us for free, this could lead to more lucrative opportunities.