Record Labels That Disrupted Norms Then Went Bankrupt

Founded by Neil Bogart, Casablanca Records became the decadent soundtrack of the 1970s, launching theatrical shock-rockers KISS and disco queen Donna Summer. The label was notorious for extreme executive lavishness, extravagant promotional stunts, and cocaine-fueled parties. The financial bubble burst after over-shipping millions of solo KISS albums, resulting in catastrophic retailer returns that led to a major buyout.