Great Record Labels - Virgin Records

Founded in 1973 by entrepreneur Richard Branson, the Virgin label was the natural extension of his successful retail stores, and previously, mail-order organization. Its first release, Mike Oldfield's TUBULAR BELLS had been turned down by most of Britain's major companies, but the album became a runaway smash, selling in excess of 5 million copies. It established Virgin's early reputation as a haven for experimental English rock as demonstrated by the early signing of Hatfield & The North, Robert Wyatt and Henry Cow. Avant garde continental acts, including Faust, Gong, Slapp Happy and Wigwam were also attracted by Virgin's enthusiasm for unconventional music, while the acquisition of America's Captain Beefheart, although later fraught by litigation, emphasized a desire to challenge. However, the advent of punk changed the label's perceived image to that of passé hippie and its catalogue was rendered old-fashioned almost overnight. This was rectified in 1977 with the signing of the Sex Pistols, and Virgin consolidated their new departure with releases by the Skids, the Ruts and XTC, the last-named of which has remained with the label to date. (The band's Andy Partridge stated that the reason Virgin have maintained XTC under contract for so long with only moderate sales is for ‘tax-loss’ purposes!) A steady promotion of reggae, punk's rebellious bedfellow, drew dividends through excellent albums by the Mighty Diamonds, Peter Tosh and U Roy, issued on their Front Line subsidiary. Yet it was not until the early '80s that Virgin established itself as a major outlet with international hits by the Human League, Heaven 17, Culture Club and Simple Minds. The success of Phil Collins, who came to the label through its acquisition of his former outlet, Charisma, established the artist as the company's one true household name, feted by royalty and a star of the magnitude of Elton John and Paul McCartney. Virgin's transition from idealism to pragmatism was reflected in its eclectic back catalogue, while the parent corporation boasted thriving recording facilities, an equally strong publishing arm and a series of flourishing subsidiaries, including Virgin America, the roster of which included Bob Mould and Lenny Kravitz. In a bid to concentrate more on the Virgin Atlantic airline, and future projects such as an independent British rail company, Branson sold his interests in Virgin Records to Thorn EMI in 1992, thereby bringing the story to a close.

Mike Oldfield - Tubular Bells (1973)