This well researched article lays it bare.
Music is the lifeblood of many people, but we need to be able to change to prosper. I've seen the live side of the business continue to prosper, but the change from music being front and centre in peoples lives have gone. The worrying part was the amount of music being purchased per person going from $75 to under $20 and dropping.
The move to festivals was a boon to promoters and it made things easier for bands to prosper, but the change in the landscape has meant that superstars, who generate huge interest are not being created any more. Niche is ruling, and now if you can fill a niche you can have success over a long period of time.
But long term seems a long way off for a lot of musicians and the realities of earning a living make it hard to slog it out working, rehearsing, performing, building an audience.
Creativity is important these days, and we will need it to move forward in the music business.