Never underestimate the savvy business skills of a man named Chester Bennington. He and the rest of the Linkin Park posse are demanding a bigger chunk of royalties as well as stock options, and the future of the next Linkin Park album lays dramatically in the balance.
Linkin Park, the best-selling American rap metal band, is demanding to be released from its contract with Warner Music, complaining that it will not see a penny from the company's planned stock market flotation.
In a statement from the band's management, Linkin Park claimed it has been responsible for 10% of Warner Music's sales during the past five years.
Its albums, including Hybrid Theory and Meteora, have together sold more than 35 million copies worldwide. The band has threatened to delay its next album, which is due to be released in 2006.
"The new owners of Warner Music Group will be reaping a windfall of $1.4bn [£740m] from their $2.6bn purchase a mere 18 months ago if their planned initial public offering moves forward," the statement read. "Linkin Park, their biggest act, will get nothing."
The Grammy award-winning band also said it had become "increasingly concerned" that Warner Music's "diminished resources will leave it unable to compete in today's global music marketplace". It added: "We feel a responsibility to get great music to our fans. Unfortunately, we believe that we can't accomplish that effectively with the current Warner Music."
Clearly Warner Music had better get on the ball with this, as the consequenses of Linkin Park not being effectively able to get out great music could potentially be disastrous.
(Or par for the course, depending on who you ask.)
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Domnicella
Flushing, NY
March 2004
MAY 08, 2005 12:39 PM
Domnicella
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March 2004
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Des Moines, IA
February 2004
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tiredjaw
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February 2004
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April 2005
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March 2004
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August 2004
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October 2002
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March 2005
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Cigarette
Cleveland, OH
April 2004
MAY 08, 2005 11:10 PM
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