yes, that’s largely true. and i’d say the extent to which labels profited over artists historically is pretty fucked-up. but, riaa itself aside, labels do serve a real purpose and are a valuable player in the space, like them or not.. and going from having the labels asymmetrically commanding industry profits (largely derived from record sales) to artists now doing the same (largely derived from other streams like touring, merch, …) may feel like ‘justice’ but isn’t an optimal state. they may have excess profits to coast on for a while but, in the long term, if both artists and labels can’t monetize the end result is less good music out there.

this disconnect in the market has hindered progress for too long (and i do blame the labels for it), but the solution should be shifting to a more equitable split of overall profits that reflects the value record companies generate in building-up an artist’s brand..