Mark your calendars. The third week in June will prove to be a pivotal one for the future of the music business. And even if yours is a mental mark, you can bet the major labels and their execs took plenty of time to assess and analyze, scrutinize and process just what took place. So what’s all the fuss?

This week, for the first time since 50 Cent’s The Massacre in 2005, Lil Wayne’s The Carter III moved a million copies in seven days—a phenomenal achievement. We’re not talking just about hip-hop album sales but sales for any and all genres. Before 50, it took Lil John’s grandiose grill to take Usher over the mil mark in 2004 with Confessions. In a diverse, rapidly changing and splintered musical environment, Wayne’s feat is both a testament to his popularity and a refutation of traditional methods of album distribution. His incredible ubiquity and productivity (as has been the case for the past several years, but is now even more vivid) stands in direct contrast to the command and control, scarcity-oriented approach used by major labels. Or, for that matter, the calculated approach of Jay-Z. He’s built anticipation through the mixtape. Leaks of The Carter III two weeks early were an aid, not a hindrance. He’s feeding the machine and it’s the very machine that the record companies—until now—have failed to understand. So now it’s Universal Motown answering to both Wayne and consumer preferences, not the other way around. A pretty nifty revolution when one stops to ponder. Universal promoted his new release through ad partnerships with MySpace, Yahoo and AOL and even iTunes jumped on board. “Lollipop” is the best-selling ringtone of 2008 and Universal takes those sales right to the bank. Of course, a new approach is not the sole reason for a million a week. Wayne has worked hard to nurture his fan base and consistently churns out quality music. In fact, Carter III sales came chiefly from record stores and chains. Digital sales accounted for only 10%. Nevertheless, the industry has been firmly flipped upside down and now, unequivocally, has displayed the capacity to comprehend and adjust their tactics.

June’s third week was also a smashing success for Brit-rockers Coldplay. Their latest effort Viva La Vida, released on EMI records, sold 316,000 copies on Tuesday in the U.S. alone and 125,000 in its U.K. debut. If Vida gets to 700,000 sales this week, it will mark the first time since ’05 that albums with sales over 700,000 topped charts in consecutive weeks. But Coldplay, unlike Wayne’s sales, have been significantly boosted through online purchases. Viva la Vida broke Jack Johnson’s (hooray!) record for most iTunes downloads in a single day. Thanks in no small degree to a catchy TV commercial that spurned my girlfriend—the stingiest of record shoppers—to make a pilgrimage to BestBuy for a $9.99 copy. Online sales helped the hit single “Viva la Vida” top the Billboard Hot 100 this week. It’s been 11 years since a group from across the pond pulled that feat when Scary, Baby, Ginger, Posh and Sporty Spice proved more that just mere “Wannabes.” When Guy Hands, the controversial EMI CEO checks in for work tomorrow morning he’ll at least be able to mitigate the near daily pant-shitting.

Just what does all this mean? After all, sales are ephemeral and, when compared to 5 years ago, still down on the whole. Still, this week the major labels affirmed something. They approached the new media and distribution environment as an ally not a foe—and it paid off. They melded with major online players like iTunes, MySpace and AOL. Sure, EMI, Universal, Sony, BMG and Warner have had this approach in place. But this week, as witnessed through digital and store bought sales, their change in strategy resonated with consumers. They, it would seem, finally got off of their high horse and answered to demands they had failed to appreciate. This is a great thing to witness. Not simply because labels are catching on, but because two schools are merging. Artists whose work is revered by fans, like Lil Wayne and Coldplay, deserve compensation. Labels are learning how to maximize this compensation by finally adapting to the new ecosystem. This week in June, in the music business, old school and new school finally got fully acquainted.