Many people are saying record labels are not needed. I'm not taking their side, but it's easy to release your next album yourself if you are Radiohead or Nine Inch Nails.

What do the unknown bands do? They don't have a marketing platform in the form of a huge fan base. They don't have dollars to market their songs.

Maybe it is best that everyone lists their stuff on iTunes and we let the market decide which music is worth buying and talking about.

Oh yea. Now I remember. Talented musicians need something to live on while they dedicate themselves to making music. The record companies pay them something on the front end while in the studio, and on the back end after the music is released.

Now, do the record companies take too much of a cut on their biggest stars? Maybe. But they also lose a lot on the acts that don't pan out. I haven't seen anyone recommending record labels as a good investment sector. They aren't making a lot of money overall compared to other industries.

Fortunately, this is America. Emerging artists are free to sign with a label or not. They can negotiate deals. They can release music on their own.

It is what it is. If you sign a deal with a label, you can't complain that you were taken advantage of if your success exceeds everyone's expectations.