This is definitely a sign that the recording industry is in upheaval. Radiohead and Nine Inch Nails are two major bands which have elected to go without signing with a record label.

Makes sense to me. With print on demand now available for music CD's and online venues for promoting music, perhaps musicians will turn to an individual contractor based approach. Why do they need a monster corporation to handle everything for them? Bands can hire a variety of independent services as needed to self-produce their work with varying ranges of support. It's very feasible. This gives the musicians choices of level of service and allows them to choose what they'd like to do themselves. It would put the control of the industry into the musicians hands. Gee . . . That would be nice!