In an apparent cost-cutting move, Disney Music Group is shuttering its Nashville imprint Lyric Street Records, the company said Wednesday.
Founded in 1997, Lyric Street was the home to vocal threesome Rascal Flatts, which has issued six multi-platinum studio sets for the label. Act will segue to another Mouse label with the release of their next album this fall.
While Disney’s pop music side has enjoyed great synergy with its TV and film units and produced an ongoing stream of chart successes like Miley “Hannah Montana” Cyrus, its Music City unit can boast only Rascal Flatts in its hits column. Imprint’s other significant group, femme trio SheDaisy, parted ways with Lyric Street last month with an album in the can; group’s chart fortunes had cooled in recent years.
DMG chairman Bob Cavallo said in a statement, “The Lyric Street team has had an amazing run, building a slate of well-known artists including the superstar act, Rascal Flatts. But given the changing nature of the music business and the more streamlined priorities of the studios, we need to find alternative ways to create and market new artists and their music to consumers.”
Imprint will be phased out slowly, with a promo team continuing to work its current records. Roster also includes Aaron Tippen, Love & Theft, Sarah Buxton, Tyler Dickerson, Kevin Fowler and “American Idol” grads Josh Gracin and Bucky Covington; plans for those acts were not announced.