The only piece of the puzzle missing here is how would you finance the creation to begin with?
I know a lot of the equipment has become cheaper but it's still expensive for an 18 year old kid to put in his garage. Not to mention the diverse skillset you would need to produce a record or movie.
The record company being able to dangle an advance (not to mention the promotion and contacts they can hook them up with) seems a pretty good carrot to dangle and people like Louis C.K have probably made enough money to begin with to finance themselves.
I also get a feeling from musicians that I have talked to that your not considered a "real" band unless you are signed to a major label, although I suppose that attitude can change over time.
You almost need a VC type system for musicians but the issue is that most creatives don't really want to think of themselves as "businesspeople".
The record company being able to dangle an advance (not to mention the promotion and contacts they can hook them up with) seems a pretty good carrot to dangle and people like Louis C.K have probably made enough money to begin with to finance themselves.
I also get a feeling from musicians that I have talked to that your not considered a "real" band unless you are signed to a major label, although I suppose that attitude can change over time. You almost need a VC type system for musicians but the issue is that most creatives don't really want to think of themselves as "businesspeople".