Comment by brico

Exactly! Good record labels book venues, organize travel, handle the legal stuff like insurance etc, they are well connected and know people at the radio stations and know the bloggers, they can introduce them to other bands/producers/video editors, ... in short: they make sure that the band can concentrate on their music and that the target audience knows about them

So record labels won't go away, they should maybe rename themselves because of the automatic negative response you get when you hear the word "record label"