The major label system gave up trying to make money on artists who sell 50,000 to 100,000 copies per album years ago, and most independent labels are too cash-strapped in the wake of the collapse of the CD to substantially invest in brand new careers. Aspiring musicians, almost no matter how talented, have few options besides the DIY, MySpace, book-yourself life. Every party in the music business is looking at the others (labels at managers, managers at publishers, etc.) to become the new bank for artists who don’t have an instantly recognizable appeal to mainstream radio. Many are hoping that new model music companies, managing all parts of a burgeoning career and collecting a part of all possible revenue streams, will shepherd new and emerging artists into the marketplace. But where will they get the money and more interesting, how much is enough to give a serious new artist a serious chance?
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