Alan McGee, the man responsible for signing two of England’s biggest and most influential bands of recent years, Oasis and the Libertines, has slated record companies.
The former Creation and Poptones label boss urges all new bands not to sign to a record label.
In an interview with Xfm Mcgee said: "I'd recommend a band not to go to any record label, I think they're all fucking rubbish.
"You're better off doing it yourself. They're living in the past, it's like owning a tram company or something."
What do you think of his comments? Should bands stay away from record labels? Let Gigwise know by posting a comment below.