In the new field of record labels, Mobile provider Orange in Spain, can also be counted as one:

In Spain the company is testing a Pop Idol-style search facility in which subscribers download video performances from aspiring acts and vote for winners, who will release material via Orange.
"We are developing a digital record label. We are now in the business of discovering new talent," says Herve Payan, head of Orange Partnerships.

And Microsoft's way is not very far from this:

Microsoft wants to create its own stars through the Zune, the portable music player rival to the iPod. "We are acting and thinking like a record label, developing new artists, recommending them through the Zune store and sponsoring tours," says Zune marketing director Jason Reindorp.

Don't you agree its an interesting approach ?  

Read more in Ideas needed to halt music industry's fall 

Read also David Caulton's Music store value chain article. I believe what David describes believe in his articles is going to be a bit more complex in the future.