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I was referring more to the fact that so many bands were allowed, encouraged, to make a few records. Sure, few made the big time but some did....Chicago comes to mind. The 3rd was the charm.
Nowadays it is a one shot audition , small sale numbers....see you later.
Biggest reason is that the companies were run by individuals who loved the product, loved the music and took chances because there was no board to report to, no bean counters to explain things to. Jac Holzman and Paul Rothchild at Electra and Warner Brothers excelled at this as did Sinatra's Reprise (Hendrix). They took chances. Today's corporate music industry is gelded, , they have no balls. This is less true of today's indie labels who nowadays still take chances.
Greed took hold, today we have the results of that greed.


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