Bob Cavallo, chairman of Disney Music Group, said in the announcement “given the changing nature of the music business and the more streamlined priorities of the Studios, we need to find alternative ways to create and market new artists and their music to consumers. I’m tremendously proud of what the team has accomplished.”According to the press release from DMG, the closure will be phased, keeping a core promotions team in place to continue to market the label’s current records.
The label’s biggest act, Rascal Flatts, will be transitioned to another DMG label in order to launch their album in the fall. There is no word yet on what will happen to Bucky Covington, whose sophomore album was scheduled for release in the fall.
On a personal note, I’m sad to see the closure because I’ve enjoyed working with the Lyric Street people over the years. I wish them the best of luck…
Photo Credit: Lyric Street Records
