 Regarding the fee amount, James Righton said that it was "absurdly off the mark", and that the band signed for considerably less on the condition they would be given their own label imprint, Rinse Records.Their first single for the label, "Magick", was released on 30 October 2006 and reached #29 in the UK Top 40 the following week.In August 2006, Klaxons played at the Reading and Leeds festivals.