What are these "distribution and promotion channels" limited by?
What you're saying sounds to me like artists don't deserve to get a larger share because what they do simply isn't the most difficult part of actually making money.
At the end of the day it may just be a completely normal function of supply and demand. Many people can easily supply what mainstream radio stations play all day long.
OK, but a new media company wouldn't face any hurdles that established ones don't. It's not like, say, the market of PC operating systems or social networks where you need network effects. What you describe is simply a limited pool of customers.
OK, well if you want to crush the existing guys, I think you'd need to compete in their space, and that means vying for control of channels (while they're still relevant).
If you want to create and sell CDs then you can do this now. I've got friends who self-publish "classical" music performances and make (not much) money from it by getting good reviews in trade magazines and selling CDs at concerts. Or you could give your music away and sell mugs and tshirts and tickets to performances.
Or there's the model that city-based orchestras do - make margin by selling tickets to concerts and having a distribution agreement with a local music shop or radio network for recordings. e.g. http://www.aso.com.au/recordings.html
What you're saying sounds to me like artists don't deserve to get a larger share because what they do simply isn't the most difficult part of actually making money.
At the end of the day it may just be a completely normal function of supply and demand. Many people can easily supply what mainstream radio stations play all day long.