Kings of Leon have negotiated a new record deal and will pay for the recording of their own albums from now on. The band has left their label Columbia Records and negotiated a new deal with Warner Brothers, which will see them pay half their recording costs themselves, giving them more control on their own spending and reaping in a bigger profit share. Under normal record deals, artists are given an advance by their label to cover any costs, but they then have to pay it back and share any profits from their work with the record company. A source told The Sun newspaper: “Kings of Leon are one of the few bands on the planet who have enough heft to negotiate such a favourable deal. “It is virtually unheard of but it shows how keen Warner Brothers were to have them on their books.” Meanwhile, the group are set to gain further revenue by releasing their own clothing range. The KOLxS2A brand will hit shops this month.
Kings Of Leon drummer Nathan Followill has used Twitter to deny his band are about to up sticks from current label Columbia and move to Warner Brothers.
“Once again there is another rumour circulating about KOL,” he wrote today (January 24). “We are not leaving our record label. We are happy where we are now let’s get drunk.”
It had been claimed several days ago that Kings, currently working on their fifth album, were splitting from their long-term home in order to secure a more favourable financial deal.
It had been alleged that they would receive better royalty rates and would have more control over their spending.