Chad Kroeger’s Nickelback are the latest big-name band to sign on with Live Nation. According to reports, it sounds like the band have entered into a 360 degree deal that encompasses albums, tours and merchandise.

The new deal is thought to be worth $50-70 million for the band, which should keep them in ripped jeans and t-shirts well into their retirement.

There’s a small spanner in the works though – Nickelback are still contracted to produce 2 more studio albums and a greatest hits package to Roadrunner Records before they can finally jump ship.

There’s no doubt this news will spark a wave of “death to the record companies” posts, but when you look at the Live Nation client list – Madonna, U2, Jay-Z – these are all established artists who arguably got to their current status via the benefits of being a major label act. Promotion, distribution and everything else that comes with a major label deal made them what they are today.

Are Live Nation scooping up unheard-of acts for their roster? Are they helping to bring new bands to the public and develop those bands into career acts like Madonna, etc?

Play Devil’s Advocate for a moment and it seems Live Nation is really only catering to the established players. You still need a major label deal to get there in the first place.