In a world where the web exists, YouTube, all these video and audio sharing websites and tools, I'm not sure the notion of a major music company is needed anymo

In a world where the web exists, YouTube, all these video and audio sharing websites and tools, I'm not sure the notion of a major music company is needed anymore. Make music, record it, put it out there, be findable, if it's any good, people will like it, share it, trade it and generally find out about it. At most, artists may want to sign up with some company to help promote themselves, but as a general rule, quality will win out in the end. May just take time. On the other hand, if you get lucky you can go viral quickly. Just have a monetization channel active and ready. And there are tons of self-service ones now, not just for the music itself but for related products/media like posters, t-shirts, etc.