I think the bit that is very galling to everybody that works on the ground floor of the industry - that is, the writers, micro-labels, PRs etc that see the artists starting out - is that people keep talking about these majors as if they are the whole industry. The micro-labels, independent and DIY acts are a big part of how the industry works now, especially for new acts versus established ones.

The big labels might have taken a hit, but general consumption patterns have hit smaller artists, venues and labels as bad if not worse, if only because their size of revenue was smaller to begin with.