Getting a record deal used to be the number one priority for unsigned bands. Having the backing of a label, with the budget to distribute and market their music, was perhaps the only way to grow and start playing bigger and better shows. But with a shift in how listeners consume music, there’s been a change in what’s actually important when you want to “make it”.
Source: Do New Bands Still Need To Get Signed To Make It? – MTT – Music Think Tank