The Death of the Music Industry?

From the CHART OF THE DAY: The Death Of The Music Industry, comes this:

I think there could be an argument made that the music industry overcharged in the prime of the CD era, and what could be seen as “death” is really the effect of competition in the form of digital and other sources. I am sure that the music industry would blame it all on free downloads, but I think there is more to it than that. For example, I’d like to add a demographic argument as well. I believe part of the decline is due to an aging population that doesn’t buy music as often.

Regardless, it is a dramatic drop.