Does the music 'industry' even exist anymore?
Before the internet, the only music people could buy and listen to was what the big studios published. People had no real choice, and bought what was available, making the studio's a lot of money. As technology has improved more musicians and artists who otherwise might have never got contracts with the major labels, have been able to record from their basements and bedrooms and publish online. Suddenly there was an explosion of new unheard music and artists, and people started listening to them.
Yes, people also became able to 'pirate' media, but I think the main reason the big studios have been 'losing' money, isn't so much that people are 'stealing' their music, but that less people actually want or need the music they put out there.
I myself don't pirate, I listen to independent artists, and pay them directly either through donations/pay what you want websites, or on occasion itunes or similar. I think that the problem with the music industry is that it has become obsolete.