This cartoon does a good job of showing how alarmist we get over new media:
I’ve said it before and I will say it again. For the most part, mediums don’t die. Some will shrink or augment with the passage of time, but they don’t really die.
Formats like VHS or floppy disks die because they are overtaken by similar, more up-to-date technologies, but the mediums can evolve… if their owners let them.
Make no mistake about it, the music industry will have to evolve or die. Artists will always make music and they don’t necessarily need the stodgie old record labels like Warner Music Group to make money.