The old method of promoting a new act in the music business was for a record company to invest at least $500,000 in studio time with a good producer, the cost of a good video, the advertising budget, and the cost of the first promotional road tour. The old way is obsolete. There is a new formula for success in the music business.
Music Business Past vs. Present
Theres a new trend in the music business that has record labels sweating in the boardroom. This new trend is called Do It Yourself (D.I.Y.) . With Digital Technology anyone can start a record label and have a personal studio on their computer. There are a number of free or (very inexpensive) studio recording software applications that allow an artist to record and distribute their own material without the help or control of any other record label.