It's all local now

You guys and gals tell me? How could the Beatles exist now? Or really any of the hundred or so bands that made it fairly big in the 60's and 70's? How does anyone make it big anymore? In the past an artist would get on the radio, sell a whole bunch of albums and go on tour to make it big. Now, because there is really no record company push/ads to sell an artist, how the hell does any artist get big? So, since a band or artist can't rely on album sales or their record company to become popular or to finance their tour how do they become popular or world famous? Isn't it the end of big time world famous rock stars? No more stadium or maybe even arena tours of big bands. Really, your looking at local bands playing live at local clubs. Yes, the absolute best will play be able to play big clubs or college halls around the country or even overseas. But, to me, the sad fact is young folks no longer will have their musical hero's like we did and be able to listen to them in ultimate sound in a big concert setting. Tell me how I'm wrong?