DMG to Close Lyric Street

[FantasiaBish]

http://www.hollywoodreporter.com/hr/content_display/news/e3i2bf7a2a5a7ec6db27f89d194c05d9263

"DMG to close Lyric Street Records
Blames changing music business, transitions Rascal Flatts

By Georg Szalai

April 14, 2010, 04:20 PM ET
hr/photos/stylus/135326-Rascal-Flatts_341x182.jpg

Rascal Flatts (Getty)
NEW YORK -- Walt Disney's Disney Music Group said Wednesday it will close its Lyric Street Records label in Nashville, citing the changing music and studios business.

The label is best-known as the home of Rascal Flatts, who will be transitioned to another Disney music imprint.

"The Lyric Street team has had an amazing run, building a slate of well-known artists," said Bob Cavallo, chairman of Disney Music Group. "But given the changing nature of the music business and the more streamlined priorities of the studios, we need to find alternative ways to create and market new artists and their music to consumers."

Opened in 1997, Lyric Street also was home to such artists as SHeDAISY, Love & Theft, Sarah Buxton, Tyler Dickerson, Kevin Fowler and "American Idol" alums Josh Gracin and Bucky Covington.

DMG encompasses all of Walt Disney Studios' recorded music and music-publishing operations, including Hollywood Records, Walt Disney Records and Walt Disney Music Publishing"

 

[hrcollectibles]

So its a record company that put out albums from artists I would never had purchased ... :shrug: I am sure some people will be devastated...

 

[Next Big Thing]

So its a record company that put out albums from artists I would never had purchased ... :shrug: I am sure some people will be devastated...

Those that are into the country genre should know many of those artists. Rascal Flatts is actually one of the biggest groups in country today. Love & Theft is also a big up and coming group. My point is, if you don't know country, yeah it probably doesn't mean anything, but these are relevant (or used to be relevant) artists that they have had there. Also, please let me stress how country isn't country anymore, it's more country-pop. Country gets a bad wrap a lot of times just b/c of what it used to be, not what it is.

 

[markc]

With the exception of Rascal Flatts, all the other groups on Lyric Street's roster were rejects/commercial failures. One good group isnt enough to keep an entire label afloat. It was only a matter of time before this happened. Country isnt profitable as it is, let alone 3rd rate country artists. Hollywood Records is only staying profitable due to Miley Cyrus/Jonas Brothers/Demi Lovato and Jesse McCartney. Had the recent success of those artists not recently happened, that label would've folded as well as they were struggling for quite some time.