Oasis Sign Innovative New Record Deal With Sony
OASIS are set to release three albums in conjunction with record giant SonyBMG and their own label in a groundbreaking new deal.
The band announced they had brokered a long-term agreement with the company earlier this week (16Jun08), and will release their LPs through the music giant in partnership with their own label Big Brother Recordings - meaning the two record firms will share the profits from the album sales.
The move will give the band more freedom and artistic control compared to other artists who are signed to just one music company.
The deal also sees the Wonderwall hitmakers maintain rights over the group's back catalogue of albums.
And Oasis' management are pleased with the workings of the new contract - branding it "imaginative and exciting".
A representative says, "This allows the band to take advantage of all the opportunities presented by the new business models available today as well as remaining totally in control of their own destiny."
Ged Doherty, Sony BMG UK chairman and CEO is equally ecstatic about the signing: "Oasis are in complete control of their destiny and could have chosen to sign with anyone - or even go it alone - so I am delighted that they have chosen to continue to work with us."
The first of the three studio albums is expected to be released in September (08) - their first LP since 2005's Don't Believe The Truth.