Steel Panther On New Kobalt Pub Deal: 'We Bought a Ferrari, Kobalt Gets Our Leftover Groupies'

Kobalt Music Group has signed glam metal spoofers Steel Panther to a worldwide publishing deal. The agreement covers the band's masters and catalog, which will include a new album that's due in spring 2014.

Open E Music and KLS, Kobalt's labels services division, are pairing up to promote the new album globally (except for in Japan) next year. The band will tour such territories as the United States and Australia to promote the record.

Guitarist Satchel tells Billboard, "Speaking for the guys in Steel Panther, we couldn't be happier to sign this massive deal with Kobalt. We just bought a band Ferrari. And I know the guys at Kobalt are stoked too, 'cause they're gonna get a lot of our leftover groupies."

"I'm so excited to get the deal of a lifetime from Kobalt Music!," singer Michael Starr adds. "After having sex with one of the executive's wives, I thought the deal would go south. Turns out this guy's wife has been with everyone in Pearl Jam too. Thanks for being cool [about that.]"

Steel Panther also includes bassist Lexxi Foxx and drummer Stix Zadinia. The band debuted its new video, "Party Like Tomorrow Is the End of the World" on Vevo on Oct. 29. The clip, directed by Rob Riggle, features cameos by such celebrities as N 'Sync's Joey Fatone, "Jackass" star Steve O and adult film legend Ron Jeremy. The NSFW video lives up to the band's comedy reputation of taking glam metal stereotypes to the extreme. It can be viewed below.