Music is a compelling product that's universally loved, but people aren't buying it. These were distributed through the bricks and mortar retailers, such as HMV and Virgin. Each record company needed a huge distribution operation to get into the stores. If you didn't have one, you wouldn't be in the record business. Money doesn't just get your artists into the shops, it lets you buy your way into radio stations.
DJs get lavish meals and invites to the biggest concerts.
The Net offers an entirely different economic model. It's taking the power of distribution away from the record companies. Anyone on the Net can distribute a record and even build their own radio station to promote it on. There's a whole new set of distribution and exposure models.