A mixtape is definitely a good tool to help create a fanbase, and with the right exposure and support, it could be instrumental in taking your career to the next level. However, I believe that as far as the music industry goes, we are once again back in the 60's music era of selling singles. It's all about singles, singles are all that's selling, and really if you have a hot single, you'll get major label attention quicker than if you had a hot mixtape. Just look at the ATL rap group Travis Porter. These dudes are touring of 1 single they are in the middle of major label bidding wars concerning their future, their video is on MTV and their fanbase is growing by the minute. Now I might not like their music, but their format is impressive. Put out hot singles, let them chart, get a demand for shows, get the labels fighting over you sell some millions in singles via itunes and maybe sign a 1 or 2 album deal that will allow you to keep your masters, and leave the situation if at anytime the label seems to not meeting their half of the deal.
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