Youtube killing the record label?? Think again. The internet is a new way for people to market themselves and get there name out there. If you're good, like new teen sensation Justin Beiber, you're going to get attention and eventually get signed. Today there not only is youtube but myspace as well. Colbie Caillat, another rising internet star, placed her music online and got thousands of views. The record company's can clearly tell the difference between talent and money and someone just wanting attention.
On the other hand radio stations are still going to play the music, but they don't have the upper hand. Before you could have a well known agent come in to promote his client and play their music more. Instead of playing favorites now the artist gets their music out there and when people like it there going to want to hear it and the stations are forced to play the popular music.
Like these two artists and many others who have made it famous from the internet I feel like it is a good and positive thing. These artist are talented and hardworking and love what they do and I personally respect them for it. The internet gave them a chance to do what they love and since most of them don't belong to a rich family this evens out the playing feild.
Overall the record company's are still going to exist, however now they have a new source of marketing and a good way to come across new talent!