NYT is running an interesting article by Steven Johnson that discusses whether the digital revolution is destroying the creative arts.
The bottom line is that the digital revolution is re-shaping industries that cater to the creative arts. But the data suggests that the revenue flows to artists has actually increased, rather than decreased. Artists are making money in different ways but they are making money.
At the end of the day, I think this is a good thing. Why? We are getting rid of the middle men who squeeze profit out of their gate keeper roles. Now consumers of creative work and artists are in more direct contact. And the only gate keepers left will be curators.