From (one of ) today's online rants from Bob Lefsetz of The Lefsetz Letter:
Warner's got more than record revenue with My Chemical Romance. But most managers won't give up road or merchandising income to the major label. They see this request as a land grab, with very little given in return. What is the label going to do to help sell tickets other than to squeeze traditional gatekeepers for exposure? Major labels are not in the career development business. They can't wait for cash. Hell, look at Warner's stock, the company is desperate!
As I mentioned in Pt. 1 of this post the labels are late to the game on expanding their streams of revenue, and managers who let their acts get touring and merchandising revenue co-opted by the label are foolish.