Claims that it isn't are false and misinformed.
What is ALWAYS missing from the "new solutions" is the investment in emerging artists.
Sure, you see companies like Live Nation/Roc Nation setting up these 360 deals. There is definitely some promise to these new approaches, but the investment money is WAY lower than what it was. I don't know the figures, I can't find the numbers online, but I will talk to people I know in music to see if I can track down some facts and write an article on the subject.
My point stands, however. The author of this article doesn't know what he's talking about and the data he presented is useless and doesn't contain enough information to come close to accurately representing the music industry.
BTW, there is a great opportunity for "music venture capitalists".