Via LA Times... interesting backgrounder on current state of indie label Sub Pop...
"... Circa 2000, Sub Pop would often sign bands with $100,000 recording budgets, but they had to scale down if they wanted to stay in business. So they financed the 2003 Postal Service record "Give Up" for the cost of a hard drive and some Guitar Center gift certificates.
"And now that record is at 1,050,000 copies and still selling 600 a week," Kiewel says. "Companywide, our biggest records from that era — the Postal Service, David Cross, the Shins, Iron and Wine, Hot Hot Heat — all cost $10,000 or less. We were being rewarded for being fiscally responsible! Low-risk, high-yield — why would we ever change that?"
Wikipedia tells me Sub Pop have had two platinum records, one by Nirvana (Bleach), and one by Flight of the Conchords. And that Sub Pop has connections to the majors... "...Sub Pop sold a 49% stake to Warner Bros. for more than $20 million in 1994" (Source: Bloomberg, 2008). No mention of Warners in that LA Times article, as far as I can see.
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