However, the Australians insist rumours of a £1.2million deal are "way off the mark."
JET, the Australian band tipped by many to eclipse the success of Vines, have signed a worldwide deal with Elektra.
The band, who will remain signed to Rubber Records in Australia and New Zealand, were at the centre of a bidding war involving at least 20 different labels worldwide, including Def Jam, Capitol and Dreamworks. They have denied Electra sealed their signature with a £1.2million deal, insisting the figure was “way off the mark.”
“It’s a cool label and it wasn’t the one with the most cash we went for,” said singer/ guitarist Nick Sester.
The band recently released their debut EP ‘Dirty Sweet’, limited to just 1,000 12″ vinyl pressings – all of which have immediately flown out the door of local music retailers.