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There's no Equity

Country Standard Time Editorial, December 2008

The economic downturn was bound to hurt Nashville sooner or later. And now a few months into the economic disaster afflicting the country, the economy has claimed its first record label – Equity Music Group.

The label started with the help of Clint Black, who was its flagship artist. At one point, Little Big Town also was on Equity, and reached new career heights after not getting the love at SonyBMG.

But a series of events spelled the end of Equity. Varying legal issues did not help, including Black suing his former business manager. LBT left the fold earlier this year for Capitol Nashville and took its CD with them. That as a big blow for the label because keeping LBT at Equity would have at least resulted in some sales and a revenue stream.

Ultimately though the economics proved difficult. Record sales have fallen a lot this year, more than 20 percent across the board in recent weeks.

It certainly is unfortunate any time a record label folds – people are out of work, and the amount of music being released decreases. New labels always seem to spring up, but who's going to step to the fore in this day and age to provide the big bucks needed for financing? Not so likely now, it seems. Yes, these are difficult times indeed.