Most Helpful Guy
I have some experience with making music, recording and such.
I can say 'Yes'. I can't think of anything else that can get you there as quick as these competitions can. I also have to say that these competitions look fake to me. I think that the winners are predetermined. I'm pretty sure that record labels take an interest in someone early one, sign that person and than pay to have that someone win it.
There is however no guarantee. I remember on 'Popstars' that winners formed a group called "hearsay" and the losers formed a group called "liberty X". Ironically Liberty X became much more successful.
Winning or ending up high in these competition means you'll get signed by a big label And because they have a world wide network and you already have some fame being on television it is easier to make a hit record. However I see these artist get less and less success. They kind of disappear as fast as they came. At least faster than when these competitions were held in the 90's.1