Headline News
SPV Records Filing For Bankruptcy
In a shocking revelation, SPV Records has reportedly filed for the USA equivalent to Chapter 11 bankruptcy protection. A statement from Annihilator mainman Jeff Waters reads as follows:
"SPV Records has reportedly submitted an application to commence insolvency proceedings on May 25th. I wish them all the best and they have given us metal fans some great releases for a long time.
"The good news is that I signed a deal with SPV, only a few weeks ago, releasing Annihilator from their contractual commitments to SPV, in return for a Live DVD that we shot last summer in the Czech Republic.
"SPV will be releasing the DVD soon (and it rocks; co-headlining in front of 30,000 metal maniacs!) but Annihilator are now free from the label and negotiating with others to release the new and finished 13th studio release. Updates coming at annihilatormetal.com."
Managing partner Manfred Schütz filed for the application on May 25th. He has assured everyone however that business will carry on as usual. The plan is to try and help secure as many jobs as possible and to continue to be a safe home for metal acts.
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32 Comments on "SPV Records Filing For Bankruptcy"
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Nice one Bruno, LOL. But very much true. I'd say overall the problem with SPV is that they are too much focused on "classic" rock/metal instead of finding and signing anything that sounds like the "new metal" (NOT Nu-metal) like Mastodon, Lamb of God, Children of Bodom etc
I see what you're saying, and the worst thing about downloading is that people (kids) dont even think about it these days, They just do it like its just another thing to do. But, I still find quite a lot of people who buy fair amount of albums especially in the metal scene. I thought I was the only moron putting my money on something u can get for free, but no. I prefer to have the real thing, instead of a compressed thin rattling mp3
In regards to the generation downloader thing, I'm 19 and I've never downloaded an album. I like the physical copy in my hand, the artwork, the sleevenotes and and everything inbetween. SPV is one of my favourite labels so I'm really sad to see this. I hope everything works out well for them.
Exactly. I hate it when people say "I'll go see them on tour instead" 'cause they don't realise that it's the label that funds the tour and everything so they need to be doing well in order to help the band. Without that, the bands can't tour as much or whatever.
Plus I like it when CDs have bonus DVDs. Gives me something to watch while I'm eating tea.
Ya I like the dvds as well. Especially the live discs. Some times You get patches some times a mini poster. The art work is cool and it just feels great to have a new cd to add to the one you already have. With a mp3 What to you get the song which has crappy quality and aometimes a virus.
That sucks royally, but at least it's not chapter 7, where they'd dissolve. Reformation is good.
But yeah, this is what downloading hurts -- bands that get hardly enough sales to stay afloat anyway and the labels they're signed to. Goddamn Jonas Brothers are raking in money and most major pop/country/rock labels aren't feeling too awful. Meanwhile, the smaller companies who barely make back expenses are being put under.
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sucks
the got some good bands on there label
wonder who will take all the bands over