I do agree that small scale/localised success - the long tail as it used to be referred to - is a positive force too. It looks like we all just have to learn to live with both camps (and many more besides) being given scope to thrive. Hopefully that's the best outcome, but this type of out of touch and obtuse legislation is not helping.
Total music industry is 15B (afaik). It is 1/150th of the entire music industry and that is just one site. I think the artist make more on Bandcamp and other music distribution platforms than on big labels, that might be the reason why Bandcamp is greatly successful.
I'm not surprised that Bandcamp has been doing that well for a long time now. In contrast to all those streaming services it's a business model that seems to be sustainable.
From that article I get the impression that the $100 million refers to all money paid during the existance of Bandcamp, while I suppose the 15B is annual? The article says that Bandcamp has revenue of $3.5 million a month (= $42 million a year), most of which goes to artists.
[1] http://www.forbes.com/sites/hughmcintyre/2015/03/10/direct-t...
And it all vanishes in the huge, bottomless maw of corporate greed, with little ever reaching any actual artist. It largely divides into shareholder value, outrageous manager payoffs, and.... errr... "investments" (meaning, money for more lobbying and bribes).