Contrary to what you’ve heard:
That’s via a report from the London School of Economics, which concludes:
The music industry may be stagnating, but the drastic decline in revenues warnedof by the lobby associations of record labels is not in evidence.
This isn’t to say all is well in the music industry, and it doesn’t speak to the distribution of revenue between artists, studios, platforms like Spotify, etc. But the report points out that the music industry is making exaggerated claims about the harm that piracy is causing, in order to advocate for stronger intellectual property protection. Whatever the challenges faced by musicians, making it harder to remix and share culture isn’t the answer.