Here's an independent record label with a number of cool acts on it. Specifically it has the upcoming record by the Delicate Cutters, my buddy Chance Shirley's band.
Actually, there have been some working labels up through the 2000's. Mostly niche-stuff like deathmetal et al. And the insider information I have from what we might call a "significant" indy ("indy" meaning it's not associated with any of the major labels at all -- it's not a "brand" of, say, CBS) is that they won't even bother with a band that can't sell 150K units. That's one hundred fifty thousand CD's nowadays. You know, what with iTunes and the Interwebs and whatever.
Tyrannosaurus Mouse, of course, can sell scads of records because we'll have a complete burlesque show at all our concerts. I wonder if I've adequately explained this to the band yet? I think I did, but they thought I was joking.