Ahmet Ertegun (, Turkish spelling: Ahmet Ertegun ([ah'met erte'jyn]); (July 31 [O.S. 18 July] 1923 - December 14, 2006) was a Turkish-American businessman, songwriter and philanthropist. He was best known as the co-founder and president of Atlantic Records, and for discovering and championing many leading rhythm and blues and rock musicians. He also wrote classic blues and pop songs, and served as the chairman of the Rock and Roll Hall of Fame and museum, located in Cleveland, Ohio. Ertegun has been described as "one of the most significant figures in the modern recording industry."

In 1946 Ertegun became friends with Herb Abramson, a dental student and A&R man for National Records, and they decided to start a new independent record label for gospel, jazz, and R&B music. Financed by family dentist Dr. Vahdi Sabit, they formed Atlantic Records in September 1947 in New York City. The first recording sessions took place that November.  In 1949, after 22 unsuccessful record releases, including the first recordings by Professor Longhair, Atlantic had its first major hit with Stick McGhee's "Drinkin' Wine Spo-Dee-O-Dee". The company expanded through the 1950s, with Jerry Wexler and, later, Ertegun's brother Nesuhi on board as partners. Hit artists that recorded on Atlantic included Ruth Brown, Big Joe Turner, The Clovers, The Drifters, The Coasters and Ray Charles.  Like the Erteguns, many independent record executives were from immigrant backgrounds, including the Bihari and the Chess brothers. The Ertegun brothers brought a jazz sensibility (and many jazz artists) into R&B, successfully combining blues and jazz styles from around the country. Atlantic helped challenge the primacy of the major labels of the time by discovering, developing, and nurturing new talent. It became the premier rhythm and blues label in a few years and, with the help of innovative engineer/producer Tom Dowd, set new standards in producing high-quality recordings. In 1957 Atlantic was among the first labels to record in stereo, and in 1958 introduced 4-track and later, 8-track taped multitrack recording.  Ertegun himself wrote a number of classic blues songs, including "Chains of Love" and "Sweet Sixteen", under the pseudonym "A. Nugetre" ("Ertegun" backwards). The songs were given expression first by Big Joe Turner and continued in B.B. King's repertoire. "Chains of Love" was a popular hit for Pat Boone. He also wrote the Ray Charles hit "Mess Around", with lyrics that drew heavily on "Pinetop's Boogie Woogie". He was briefly listed as "Nuggy" in the credits before changing to "A. Nugetre". Ertegun was part of the shouting choral group on Turner's "Shake, Rattle and Roll", along with Wexler and songwriter Jesse Stone. He also wrote "Ting A Ling", a 1956 hit for The Clovers that was covered by Buddy Holly. "Fool, Fool, Fool", another Clovers song was a hit for Kay Starr. His "Don't Play That Song (You Lied)" was recorded by Aretha Franklin, Ben E. King, and in an international version by Adriano Celentano.  The lyrics of "Lovey Dovey" by the Clovers were used to a different tune by Steve Miller in his hit "The Joker". Other Nugetre rhythm and blues hits include "Whatcha Gonna Do" by The Drifters, "Wild, Wild Young Men" by Ruth Brown, Ray Charles's "Heartbreaker", "Middle of the Night" by The Clovers, "Ti-Ri-Lee" by Big Joe Turner, and "Story of My Love" by LaVern Baker. All of these were originally recorded for Atlantic Records. He also wrote "Missa Olit Silloin (Dawn in Ankara)" for Finnish singer Irina Milan as Ahmet Ertegun.

Using a quote from the above article, answer the following question: Was their new record label immediately successful?
In 1949, after 22 unsuccessful record releases, including the first recordings by Professor Longhair,