It's not just file-sharing that's killing the music business. Take a look at this New York Times editorial.
The Trouble With Corporate Radio: The Day the Protest Music Died
By BRENT STAPLES
Pop music played a crucial role in the national debate over the Vietnam War. By the late 1960's, radio stations across the country were crackling with blatantly political songs that became mainstream hits. After the National Guard killed four antiwar demonstrators at Kent State University in Ohio in the spring of 1970, Crosby, Stills, Nash and Young recorded a song, simply titled "Ohio," about the horror of the event, criticizing President Richard Nixon by name. The song was rushed onto the air while sentiment was still high, and became both an antiwar anthem and a huge moneymaker.
A comparable song about George W. Bush's rush to war in Iraq would have no chance at all today. There are plenty of angry people, many with prime music-buying demographics. But independent radio stations that once would have played edgy, political music have been gobbled up by corporations that control hundreds of stations and have no wish to rock the boat.
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Which brings us back to the hypothetical pop song attacking George Bush. The odds against such a song reaching the air are steep from the outset, given a conservative corporate structure that controls thousands of stations. Record executives who know the lay of land take the path of least resistance when deciding where to spend their promotional money. This flight to sameness and superficiality is narrowing the range of what Americans hear on the radio — and killing popular music.