It's an interesting time to be in a band now. Labels are either accepting that studio cost is now not a practical recovery through record sales and are building the recovery in to touring and merchandising instead.
The money is back in touring, and in merchandising. Vinyl is back in amongst the alternative scenes because of its collectability and as a rejection of the internet era of disposable, intangible media. I think the ones who are really winning now are the punters - the quality and calibre of gigs is on the up and touring (at least in Australia) is getting a lot better.
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