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its not just a matter of promotion though. the record companies make money off sales of course, but they are the ones that sign the bands and allow them to be able to quit their jobs and make music and tour in the first place. How does a band go from their garage or basement to a tour without that? Torrents? Youtube? its possible but highly unlikely...
In fact I think that's partially why music has been so terrible lately. Sure there are good bands out there and there is some good stuff coming out but not if you listen to the radio. According to the radio, around here anyway, it is all commercial pop crap that nobody will remember in 5 years.
Good bands are not getting signed because all their fans have their music already so they can't make bank on cd sales and putting them on tour isn't profitable enough for them as much as it is the bands so the only ones they do sign are the ken and barbie dolls they can market for and sell posters and other endless merchandise off of.
Would Tool be signed if they just came out today? How about David Bowie? The Rolling Stones? Bob Dylan? No way... not pretty enough.
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