Gary Barlow's record label folds after losing £4 million

Take That singer calls time on Future Records

Gary Barlow's record label folds after losing £4 million

Photo: PA

Take That singer Gary Barlow's record label has been closed down after reportedly losing £4 million.

Barlow announced at the weekend (December 29) that he was calling time on Future Records in order to spend more time with his family, however, the Daily Record reports the label was shut down because of a £4 million loss.

A source told the newspaper: "Gary's label wasn't making enough money or generating any success. It's as simple as that. Gary was naturally upset because he had hoped to unearth the next big thing. He had signed a few great bands who are destined for success. But the problem was he also had a few turkeys on the books."

Speaking about the closure of the label, which he set up in 2009, Gary Barlow said: It's been a very difficult decision but it came down to time. I've had a lot going on recently and I want to spend more time with my family."

All of the acts who were on the X Factor judge's label, including TV talent show winner Emma's Imagination and Aggro Santos, will be re-housed within parent company Universal.

Barlow is currently in the middle of his first full solo tour in 13 years. His 25-date jaunt around the UK and Ireland began at Bournemouth International Centre on November 13 and concludes at Manchester Apollo on January 20. Take That are expected to reconvene for a new album next year (2013).

Read More On This Artist

More News
RZA suggests Wu-Tang Clan's one-off album could be exhibited at Art Basel in Florida
Formula 1 star Lewis Hamilton reveals he is working on new music
Jamie T postpones further European dates due to 'continued illness'
Sky Ferreira unveils new song 'Guardian' - listen
James Blake remixes Gorillaz' 'Feel Good Inc' - listen
Bombay Bicycle Club: U2's album giveaway 'just shows how disconnected they are from...
Jamie T reveals Courtney Barnett influence on latest album 'Carry On The Grudge'
Ed Sheeran adds third date to Wembley Stadium run
Megaupload founder Kim Dotcom declares himself 'broke' as legal costs mount up
Tribute gig for Jack White bandmate Ikey Owens to be held in Texas
The Smiths' drummer Mike Joyce to act in BBC Radio 4 play
The Libertines release short Roger Sargent-directed 'visual history' film online – watch
Take That reject Spotify by partnering with Google
U2 and Bono named 'least influential figures of 2014' by GQ
The National pay tribute to London's Buffalo Bar during final 'Trouble Will Find...
War On Drugs frontman admits Sun Kil Moon album is one of his 2014 highlights
Pond announce February 2015 UK tour dates
Creed singer Scott Stapp left 'penniless', living in budget hotel room following...
BRIT Awards announce shortlist for 2015 Critics' Choice Award
Sia 'saddened to be getting shit' for no-show at Australian Arias; gives gongs away on...
Future Islands fear 'Letterman' performance will be 'the bane of our existence'
Arctic Monkeys help push UK vinyl sales past million mark for first time in two decades

More News

Comments

Please login to add your comment.

Latest Tickets - Booking Now
 
Know Your NME
 

 
NME Store & Framed Prints
Inside NME.COM