Yes, and middle men get squeezed. Their customers want to pay less over time, and their suppliers want them to pay more.
It's one thing if you're taking raw materials and building something of value and reselling it. But I see this turning into record labels creating their own streaming services, much like Peacock+/Apple+/Universal+/etc.
It's not hard to imagine a world where you have to pay $100/year to stream Pink Floyd from the Warner Music catalog.