KORN Facing End Of Experimental Record Deal

Launch Radio Networks reports: KORN will officially complete its innovative two-album deal with Virgin Records with the July 31 release of the band's eighth studio effort, "Untitled". The band signed with the label in 2005 and was given a $25 million advance in exchange for Virgin obtaining a 30 percent stake in KORN's merchandise and touring revenue, areas previously off-limits to record companies. KORN guitarist James "Munky" Shaffer told Launch that he would advise anyone starting a label to think about new ways to work with artists. "The record company obviously is changing drastically, and I would look at different ways of developing artists, instead of just a traditional record deal," he said. "You know, sign the band, give 'em money to record, put 'em on the road...I think in the future it's gonna be more about developing an artist, more than just record sales."

Shaffer himself has his own label, called Emotional Syphon Recordings.

KORN's new album is due out on July 31. The band's first disc under the deal with Virgin, 2005's "See You on the Other Side", has sold 1.2 million copies in the U.S.

Shaffer told Billboard that the band wants to re-sign with Virgin, while singer Jonathan Davis said that he was pleased with the way the first deal played out, explaining, "A lot of people criticized us. They said a record company has no f***ing business getting in the touring business or doing any of this. But...it's good. People are scared just because the old way of doing business is broke."

KORN will kick off the 2007 Family Values tour on July 20 in St. Louis, with EVANESCENCE and a number of other acts on the bill.