with the new digital distribution methods and physical media almost on the decline, record labels hardly 'sell records' any more. They just do a huge marketing push for the artist.
If indie musicians can figure out a way to market themselves, they really wouldnt need a record label.
"marketing themselves" is a pipe dream that has only worked for a tiny percentage of indie artists - a huge industry has built up around this effort, and just like the major labels made lots of money off of their artists, this industry is making lots of money off these indie artists, just exploiting economies of scale of artists instead of consumers.
And there are a lot of people making a lot of money on selling 'self-marketing opportunities' to independent musicians.
But to compare that industry ('huge'?), in terms of revenue, to what the majors did in their hey-day is an exaggeration.
The model of selling services to indie musicians has not yet surpassed the model of selling music to customers.
But perhaps that's where we're headed? That's a depressing thought.