Smashing Pumpkins frontman thinks that the industry is 'rewarding the wrong end of the art world'

The Smashing Pumpkins’ Billy Corgan has spoken out about major record labels.

The frontman, who is currently releasing the group’s free 44-song album, ‘Teargarden By Kaleidyscope’, one song at a time, thinks the current system has “squeezed the excitement out of music”.

“Something about the need for the major label system to corner the market has squeezed the excitement out of music,” Corgan told SpinnerMusic.co.uk. “It’s almost like the restaurant where the prices are too high – you can’t enjoy your food. You feel like you’re getting ripped off, but you don’t know why. Fans overall have rebelled.”

Corgan continued by saying that he thinks the industry is made up of “middle-of-the-road non-risk-takers”.

“Most people don’t sit around and intellectualize it as much as I do,” he explained. “They should. The last 10 years, there’s plenty of evidence that people don’t want to buy music the way they once did. I don’t know how many different ways people can tell [the music business] that.”

“My caveat is that now we have a system of middle-of-the-road non-risk-takers that seem to be risk-takers but aren’t really,” he added. “It’s systemically rewarding the wrong end of the art world.”

As previously reported, the band have recently releaseed a new EP called ‘Teargarden By Kaleidyscope Vol. II – The Solstice Bare’.