Despite technology and the Internet completely changing the record industry, touring and live performances has always withstood the test of time. Since name recognition and fan loyalty is best created with live concerts, the need for managers and booking agents has never left the music industry.
There has been a definitive shift in major celebrity musician involvement with record labels in recent months. Madonna, U2 and soon Jay Z, have all left their previous labels and signed on with Live Nation ( a promotional company, record label and soon to be ticket distribution company) to benefit in merchandise and ticket sales, over traditional record revenue.
"While Live Nation may be a great place to go for artists who want to promote a tour, their services won't do much good to an unknown artist." http://abcnews.go.com/Entertainment/Music/Story?id=4584564&page=1
The impact of the internet on record sales is directly and obviously affecting decisions for artists on the level of Madonna, Jay Z and U2. For example, Jay Z leaving Def Jam is directly related to the lack of income being generated by Def Jam's owner Universal. Once Universal was unable to meet Jay Z's financial needs, he must go down other avenues in order to maintain the enterprises he has built.
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