Jazz Recording Artists Go Into Business for Themselves
A WSJ article about the emergence of new music labels run for and by jaz musicians.
I think this is the answer for the less popular (i.e. real !) music genres, let the artists (those who have the "content") and their public (that would be the "consumers") communicate and buy/sell directly - who needs the parasites of the big labels in the middle ? If the established artists can promote and endorse (and help) their up and coming less established colleagues - then we the fans/audiance will find and promote new music and artists... in the way we already do: by referal.

Here's an artist based label (there are many springing up now) which features some new music from Roger Eno (that was my link to them):
Burning Shed: Specialist online music label and shop