[citation][nom]Blessedman[/nom]We could be seeing the end of the record industry, lets hope the government doesn't step in and bail them out...[/citation]
You'd have to differenciate publishers and artists in that statement. I don't think we'll see the end of artists even if the 'record industry' (as in publishers, producers and marketing guys) disappears. They're just the middlemen anyway, and most big companies by now have figured out that middlemen are not truely nessecary. Aldi has their own of almost everything, and save a lot on not having middlemen. And with the advent of reasonably fast internet in most countries, you would as an artist (music) not depend on those middlemen. You can buy adequate recording gear reasonably cheap, or rent it even cheaper, and publish stuff yourself over the internet virtually free of expense.
I don't know how the movie industry would work without the big labels, but imo those smaller local productions are actually often better than the big budget ones. Inferior visuals sure, but usually much more compelling storyline, and actors that actually care to do well.