Google Music Artist Hub, will it kill the labels

Today Google launched their music service. Artists will be able to sell their music directly vie their page, so the label is not needed. Will this kill the labels as such in a long run. Also Google gives 70% share to artist, when that is compared to Beatport or iTunes, it is significantly more, because there is no label cut and distributor cut.

The question is: Will the artists that already have a fan base start selling their music their own?

I think that the labels will most likely offer the artists to run their artists pages, and get a piece of the action there too.

Its on the artist now to decide will he go his own way, or will it let the labels do their thing. The trouble is that if you transferred your rights to the label, they can sell it on Google Music as well.

We will have to wait and see how this will turn out.