Clint Black shakes up the Nashville music business
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Bankrate: Talk about a challenge, you've certainly got one with starting a new record label.

Clint Black: Well, it's not as big a challenge in my mind as going back to the majors, which I had the opportunity to do. My manager had some real nice offers. It was one of those things where everyone around me -- my family, especially -- was looking at a lot of money and the strength of a major label. But the closer I got to it, the more depressing it was. My manager, Jim Morey, and I had talked about starting a label, but we didn't have anybody to run it. One day he and Charles (Sussman) got on the phone with me and said, "Remember we talked about a label, but there wasn't anyone to run it? Well, now there is." And that was [executive vice president and general manager of Sony Music Nashville] Mike Kraski [who left Sony in May 2003]. After that, the idea of walking away from big advances never entered my mind. I didn't have to muster up any courage at all. It was so simple in my mind, in an age when we have other start-up labels that have done really well, and you've got a guy like Mike Kraski and the expertise of Jim Morey and Charles Sussman. So if I've done my job well and radio hasn't forgotten me, we should be able to sell records just as well as any other company. At the same time, we should be able to garner a lot of good will.

Bankrate: Why is that?

Clint Black: Because the industry really does look upon the artist as the source and originator of the music, not the record company. The record company doesn't create this music. They sell it. It's the same as the guy who invented the disposable razor blade. Equity is a record company that's about the artist. The artists are probably going to benefit more than anyone else in the company. They can have long-term careers like only a few of us have had, because of the way the business is structured.

Bankrate: You mean with artists owning their own masters and sharing in the company's profits?

Clint Black: Absolutely. At a major label today if you wrote the song, you only get paid three-quarters of what someone else who wrote a song on your record gets paid. With Equity, even if only one fan goes out and buys that CD, you get paid your share from the very first one sold. With the majors it literally could be five years before you see your money. Your career could be over before a little check trickles in.

Bankrate: What are the other differences?

Clint Black: Well, Equity is not going to dictate creative direction. They're signing artists they believe in, and then the artist really drives his own direction. And, last and most important, once an artist sells a half million units, he becomes part-owner in the company.