In an interview with Newsbeat, Managing Director of Fiction Records Jim Chancellor, has said record labels are ‘scared’ of signing new guitar-based bands due to the lack of mainstream success being experienced by many of today’s emerging rock acts.
“The problem is everyone is looking for instant results from a new signing," says Chancellor. "What we’ve tried to do at Fiction is help bands through those phases. We try and nurture talent. Television is very limited. For guitar bands it’s Channel 4 and Later…With Jools Holland. There are very few other outlets. As much as it is difficult to get heard the White Lies record sold really well and so has the Snow Patrol record in a climate where it's been tricky."
In recent weeks a number of musicians including Kasabian, Primal Scream, Kaiser Chiefs and Noel Gallagher have spoken about the lack of rock n' roll bands in today's charts.