Add custom post type with taxonomy #WP

Asset.php

function post_type_albums() {
	register_post_type(
		'albums',
		array(	'label'    => __('Albums'),
				'public'   => true,
				'show_ui'  => true,
				'supports' => array('post-thumbnails', 'excerpts', 'trackbacks', 'comments')
		)
	);
	// Custom Taxonomy for Genres: categories specific for this post type
	register_taxonomy( 'genres', 'albums', array( 'hierarchical' => true, 'label' => __('Genres') ) );

	// Custom Taxonomy for Performer: add tags specific for this post type.
	register_taxonomy(
		'performer', 'albums',
		array('hierarchical' => false,
			  'label'		 => __('Performer'),
			  'query_var' 	 => 'performer',
			  'rewrite' 	 => array('slug' => 'performer')
		)
	);
}

add_action('init', 'post_type_albums');