YouTube Funded All Def Music with Universal
I think the odds of being a superstar (even for only a short amount of time) are much better now than they were twenty years ago. Sure, you can argue that two decades ago there were fewer artists to choose from and labels would have an easier time developing a few select artists. But today, the amount of exposure a single artist can have is phenomenal compared to what goes on by only word of mouth. YouTube sensations with real talent have gotten the credit they deserve, and some audiences and fans primarily use YouTube as a way of connecting with their artists.
YouTube is unique in that each video does not have to follow a specific format. One video can be a produced music video, while the next video might just be a one on one chat with the artist. This flexibility allows a YouTube channel to do what a music video channel cannot. Russell Simmons is working with YouTube to basically create a label that can exist digitally, rather than in stores at a shop near you. It seems like the next reasonable area to develop artists is online, rather than in person. For young talented musicians, this may be their ticket.