But why can't this change over a period of time as physcab has indicated (who by the way, works/worked for one startup leading the charge)? I believe it impossi

But why can't this change over a period of time as physcab has indicated (who by the way, works/worked for one startup leading the charge)? I believe it impossible for the industry to fail--there will always be people making music. So the big four are either going to have to get with the program (and probably significantly reduce their market cap), or get the hell out the way. This is in someways analogous to what YC, super angels, et al. have done with venture capital. Just like ~$20,000 is about all you need to get a talented founding team started, musicians today can do things on the cheap just as well. The entire system no longer hinges on the $100M home-run in either case. Everyones been focused on investing in the killer app that will bring the music industry back to equilibrium. The Spotify's and last.fm's will certainly play their part, but its a fundamental shift in capital structure that the industry needs. Making it as a musician is, never has been, nor ever will be easy. There's extremely talented people out there though that, given a little cash and a little support, have the drive and persistence to make a career for themselves. Sans record label.