There are two, somewhat overlapping, problems here which apply to a lot of parts of the entertainment industry.

The first is that supply exceeds demand: "everyone wants to be" an artist. This is basically unfixable.

The second is the very skewed distribution of revenue: a few big names get hundreds of millions of people's money, everyone else doesn't come close. This doesn't have to be that way at all (remember the 2000s when everyone was talking about the "long tail"?), but it would be a huge cultural shift and it involves a long discussion about commercialism and entrenched interests.