The Raconteurs: 'Record Companies Are Losing The Plot'

The Raconteurs have attacked record labels – accusing them of giving up on their artists if albums fail to achieve quick success.

“They stop. They consider it a failure. They are completely losing the plot,” explained the band’s guitarist Brendon Benson.

Benson said that record companies needed to “gamble” and “put more money into artist development.”

Earlier this year, The Raconteurs surprised the music industry when they released their second album ‘Consolers of the Lonely’ without any press lead time.

In an announcement on their website, the band said that they wanted to get the record the fans as quickly as possible.

Speaking in today’s Sun newspaper, the band’s frontman Jack White said he paid a lot of attention to how the record was received when it was released.

“A lot of critics were just pissed at the idea and were like, ‘I’m trashing it whatever’ but if you go down to a different level — the blogs and college stations and papers — they were all raving,” White said.

“They had less to lose on the ego front.”

What do you think of the band’s comments? Are record companies losing the plot? Let us know by posting a comment below...