Elton talks exclusively to Music Week in this Mondays edition about his worries over the industry not giving enough time for new talent to develop and how he is trying to do something about it at his new company.
The songwriter, who has recently launched the Rocket Music Entertainment Group with a roster including Lily Allen, James Blunt, Ed Sheeran and himself, spells out the dangers of labels rushing new artists with their first releases and then quickly disregarding them if they are not successful immediately.
The worst thing to do is to rush people to have a record out. Theyll make a record when theyre ready and it comes out when it is ready, he tells Music Week.
He reveals how he and his colleagues at Rocket are leading by example as they slowly build the careers of artists such as Murray James and Oh Land, just as his own career gradually took off at the end of the Sixties.
He also discusses his plans to launch a label at the new company, forthcoming work on his next studio album and his praise for XL and other UK independent labels whom he believes are developing acts in the right way.