KORN And EMI Partner In Global Agreement

In an innovative deal that is among the first of its kind in the music industry, KORN, the multi-platinum, Grammy-winning rockers, are teaming up with EMI Music in a new multiple rights joint venture.

Under the exclusive, global agreement — which includes a recording contract with EMI's Virgin Records — KORN and EMI will also partner in and share in the results from the band's overall career, including their recording, music publishing, touring, merchandising, sponsorship and any other activities, such as film, TV, book or video game projects.

This new partnership with KORN more closely aligns the interests of KORN with those of EMI and Virgin. It offers the members of KORN a unique relationship with their record company, and it allows EMI to work more closely with the artists and their management on all aspects of their career and their brand.

KORN — Jonathan Davis, Fieldy, James "Munky" Shaffer and David Silveria — have redefined the parameters of heavy music, revolutionizing the genre by matching unsettling guitar textures and volcanic rhythms with jagged, introspective lyrics and intense vocal stylings. The band are one of the most popular hard rock acts in the world today with a dedicated fan base and widely acclaimed live performances. They have sold a total of 25 million albums worldwide to date, 14 million of which were in the U.S. Their last four albums debuted in the top three of the Billboard Top 200, two of which entered the charts at number one.

The band are known for their extensive live touring schedule, and in 1998 created and headlined the highly successful Family Values Tour, which continued for four successful treks. KORN is currently performing to sold-out audiences in Europe this fall, and are developing plans for a North American tour to begin in the coming months.

The new agreement with EMI commences with KORN's first Virgin Records release, an as yet-untitled record and the band's first studio album since their 2003 platinum-selling "Take a Look in the Mirror". The album is slated for release later in 2005.

In addition to their record deal, KORN and EMI Music have established a joint venture company in which EMI will partner with KORN on the band's non-recording activities such as the band's DVD sales, music publishing, touring, merchandise, sponsorship and any other band activities, for example film, TV, book or video game projects.

The deal enables the band to be even more innovative in the multi-platform release of music. KORN have been leaders in this arena, beginning with the KORN TV online campaign in 1998 to more recently when they were the first band to simulcast a live concert into movie theaters across the U.S. With its new partner EMI, KORN are looking to mobile, video games and other new technologies such as high definition and interactive TV to further connect and expand its audience.

EMI's relationship with KORN is modeled after the innovative and highly successful partnership the company entered into in 2002 with Europe's biggest solo male artist Robbie Williams, the first ever agreement of this kind to be signed by a record company and artist.

KORN lead singer Jonathan Davis said, "I always felt like I was working for a record company. Now I feel like we have a true partner. I'm looking forward to this new chapter in our career."

"Every musical genre has artists who really stand the test of time and KORN are a rock act with real longevity," said David Munns, Vice Chairman of EMI Music worldwide and Chairman and CEO of EMI Music North America. "When you listen to this new amazing album and see their current live show, it's clear that KORN are here to stay. We are really happy to be in this partnership with them."

Jeff Kwatinetz, CEO, The Firm, said: "Throughout their illustrious career, KORN has always blazed new ground, so it is no surprise that they are the right band for this unprecedented deal. We greatly admire and respect David Munns and Alain Levy, who have built their careers through forward thinking and risk taking, and we believe in the team they've assembled at Virgin. This deal represents the necessary evolution that our industry must make, aligning interests among bands, management and recording companies. In the process, KORN will get unparalleled artistic freedom and control in all areas of their career while still benefiting EMI. Instead of the typical fighting between artist and label over a small pie, we believe we have figured out how to dramatically increase the size of that pie."

Kwatinetz added, "While every other recording company spoken with made substantial offers, only EMI was willing to take the leap into making this model a reality."

Matt Serletic, Chairman and CEO of Virgin Records, said: "KORN's uncompromising and innovative approach to music has created some of the world's most intense, most memorable sonics, earning the band a deep, lasting and all encompassing bond with their fans. All of us at Virgin are thrilled to embark on a partnership with KORN, a band that not only defined a genre, but with this incredible new album, moves beyond it."