So, it wasn't necessarily that people would no longer pay for music and that the record industry was dead, it was the reluctance of the industry to adapt to technological advancement as well as social behavior trends. Spotify, and to a lesser degree, Pandora, identified this trend and bridged the gap between piracy and the record labels. I wonder what Lars Ulrich from Metallica thinks...
I stopped pirating in exchange for a Zune pass. They have the vast majority of what I've looked, for the missing stuff I'll just eBay the album and then pirate a digital copy.
Most Spotify users are free users, and would probably instantly switch back to pirating/YouTube if their free plan ever disappears or becomes too limiting.
I stopped pirating 5 years ago because of all of the streaming services out there (grooveshark, last.fm, pandora), and somethimes youtube.