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We're still saying the same thing, there used to be risk but they won't take any risks anymore. The major labels still aren't signing them, so either these guys aren't getting a shot at being successful or they're doing it on a smaller label. Either way the record company isn't getting the gravy trains they used to get when Yes or Talking Heads or Oingo Boingo or Jethro Tull blew to the top of the charts for no apparent reason. Of the top of my head the last round of this we saw was the Seattle grunge thing, even with that most of the labels stayed way back until after Pearl Jam was successful, then everybody followed with their own flanel band.

Note I'm placing the blame squarely on the record labels themselves. They've adopted a chickensh!t attitude toward artist signing and development and they're missing out on the high revenue risk brings. They're also missing out on the savings, bands like the ones I listed above didn't sign for fat advances and didn't spend a year and a half in 3 different studios making an album. They're cheaper to work with. The other thing the major labels have rejected are tried and true marginal bands with a proven if small audience. Checkout Spitfire Records, they've gobbled up tons of acts the majors didn't have time for, sure nobody on that list is going to go multiplatinum anymore, but combined there's a lot of revenue there and every last one of them used to be on a major label and those labels are now missing that revenue.

The majors have taken an attitude that all they're interested in is the next Brittney or Shania or J. Lo or Michael. They've forgotten why they went throgh the 70s and 80s with hundreds of artists. And they're losing money over it.