Everybody knows the record companies will fade away. It's not because of piracy though. Two reasons that come to mind are that there are no more physical "records" needed, and, that the quality of the produced music went down the hill since the seventies. There are very few exceptions.

What's played on radio and music-tv stations nowadays is just bad and bad music is pushed by the music execs to them.

Lady Gaga, Kesha, all the hip hop bullshit, all the alternative crap, most rap, the black eyes peas (!!!) do I need to say more? That's not music, it's a show to make money, and nothing more. No way I, or anyone else interested in music would buy that.

I am a musician, I even studied music, and I cannot find a radio station with proper music, I find some streams, the same way I cannot find a record label to produce my music, they say it would be "too unpopular", I find some live concerts though, which keeps me alive.

There is no room for just good songs anymore, so there is no room for the record industry, who caused that.