A friend directed me to this forum as my old band were briefly signed to this "Label".
My old band was a Death Metal style band, we were all either college students or doleys at the time. We played a fair amount of local gigs and some out of town ones, the only thing holding us back not having a CD. We eventually recorded a three track EP at my college and got to work spamming the tracks. We ended up getting a lot of interest on Myspace and sometimes getting 150 plays a day. All in the grand scheme of things its nothing but we were chuffed and when we got a belting review in Terrorizer mag, we decided to start looking for a label. In all honesty we were not ready for a label, but because we had the review, a lot of blogspot downloads and the internet plays we thought it would be the next step.
I sent off a few "Press packs" to some labels, some independent, some a bit bigger and some down right ridiculous. Anyway after a few weeks, our Myspace had a message from "Rising Records". I had heard about this label through a local promoter who was putting on a gig referred to as "The Rising Records gig". The message said that they had listened to the EP and that they were prepared to offer the DIY deal (this was 2008, his methods seem to have a bit more choice now). We called him later that night and arranged to go down to meet him at his home/studio. The deal was a simplified record contract where the band paid for recording/mixing/duplication.
We went down to visit him and a few seeds of doubt were sewn in my mind as soon as we got started. First of all we asked him what he thought of our music, he gave a very open answer too which I could tell he couldn't remember listening to it. His main response was "I like your logo, I saw it and thought it could sell things". Still each of us had started planning how to acquire our £2000 per head share of the deal as we ummed and ahhed basically working out that it would be an opportunity wasted otherwise.
He gave us a dummy contract to mull over and it was very simple for the DIY deal. I rang him later in the week and said we were going to sign with him. The second bit of doubt came with the contract, now affixed with "The Artist shall pay £1000 deposit before being announced as a RR artist". This was not mentioned as a condition in our meeting.
Anyway we paid it and we were announced as a Rising Records band. A few days later I checked the website's news page and it stated that they were "Stoked" to sign us. I took a breath back and thought "who would be stoked to sign us nobodies?". Around this time I read the No Quarter Given blog on dealing with Rising and got my band mates to read this. Some of them were shocked, others just gave a "how do you know this band isn't talking shit?" attitude. I knew though now. The nail in the coffin came when they signed another local band who I had always seen as a bit naff and a bit try hard. I got my point across at next rehearsal with the support of my guitarist and we rang up Rising and cancelled our contract.
Now I don't expect any sympathy as we knew what we were getting into, we got the exact same speech of "If you put the effort in, you may have a huge record, only you guys can fuck it up" and we all sat there nodding thinking we were "different". I do however feel sorry for the bands it has fucked up royally, who have split up, who are financially ruined and have had their dreams ruined. In the end it didn't work out too bad for us, We lost £1000 which was £250 each, we swallowed our pride on the local scene and had to say our "deal" had fallen through but we played some awesome gigs in our final year after that. We ended up splitting because we had different influences and the writing had got stale, so in the end going any further with Rising would have been a huge mistake that only would have ended in tears.
Last minute edit: I remembered just now that we used to get a lot of messages from the "Street Team" asking us for designs and money for flyers. Of course with the seeds of doubt firmly sewn, we ignored these messages haha.
Sorry if thats a bit epic and drawn out for a first post!