I have to disagree slightly. I know from first hand that small independent labels are being hit hard, labels that are run by the artists themselves. It is modern electronic music that is being hit the hardest because its fanbase consists of techy-savvy young men.
Amon Tobin had a rant about it;
Amon Tobin, the music industry and the web
And Mike Paradinas (Mu-Ziq) said;
Quote:
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It’s started to get better. There was an impact yeah; our sales went down to about a quarter of what they were. In 1998, an average album would probably sell about 3,000 quite easily, depending on the quality obviously. And then in 2000 it had gone down to about a third, and 2002 was probably the worst year, we were struggling to sell 500 of anything. But having increased the profile of the label we’re doing better with certain things, but it’s still hard to shift 500 of something really obscure.
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So fuck the majors yes... but what about the minors? Not every artist wants to make their living from live performances or DJing.