I am among those who listens to a stereo and not computer speakers or a phone for gods sake. I listen to vinyl mostly. I am happy it is coming back and maintaining a healthy rebirth currently. New digital formats are being set out to make music sound good, flac is excellent and the thing neil young is working on is supposed to be excellent.
but this brings us to the real reason at this point in time the music business is struggling. Supply and Demand.
the music business exploded in the 60's. The baby boomers and generation x consumed music at an obscene rate. I know because I am a generation x person who is an obsessed music person...I have about 500 cd's, close to 650 albums and a ton of downloaded digital music.
We in these two groups are not the norm anymore. The audience who consumed this has shrunk considerably. The millenials or generation Y if you will do not consume music the way we did/do. In fact they grew up not paying for it and have that in their mind....there only way to get music they like is to download it.
As you said, CD sales are falling off of a cliff.....The hope here is This new generation z and the tail end of the millenials appear to be music consumers.
I think there are a ton of great bands around making excellent records, but there is no mtv, the independent local radio stations who could break bands, take requests and determine the top 40 is gone. They were all bought up in the unregulated conservative windfall under the previous president.
I am an editor of a music tv show, we have some great artists who are really talented making great music...but its a struggle to find an audience and then keep them. I can tell you people do not even watch music videos anymore. In Texas Music is alive and well. I think in Seattle and some other areas music is also alive and well.
iTunes allows consumers to buy one song, its like the old days in the 50s and first half of the 60's when people bought 45's. It took some outstanding artists to create the concept of the album and a whole record full of meaningful music. I don't know how we get around this currently.
It will be interesting to see what happens going forward.