The title of the Fortune article is "Big Musicians Flex Their Muscle With Record Labels," but the tone of the article is evident in the title of the web page: Who Needs Record Companies? The answer should have been answered by writer Davin Leonard. Except for the superstar clients of management company The Firm, who have distribution and profit-sharing deals that allow them greater control and ownership of their recordings, most artists need record companies.

It's the latest in a long line of wrong predictions of labels' pending demise. Few artists can go it alone. For every Ice Cube, who achieved his musical notoriety on the back of major labels, there are thousands of artists dying to connect with a big label.

Over time more management companies will shepherd their clients' careers through a label-less album release. Record labels may end up looking like a hybrid of record label-management company-marketing firm. That's years away, and even then only established artists will be able to ditch their label and go it alone. They will be exceptions to the rule, just as they are now.