http://www.bbc.co.uk/news/magazine-34268474... in 1976, a French polymath called Jacques Attali wrote a book that predicted this crisis with astonishing accuracy. It was called Noise: The Political Economy of Music and he called the coming turmoil the "crisis of proliferation".
Soon we would all have so much recorded music it would cease to have any value, he said. And this "crisis of proliferation" has come to pass
If you are interested in this sort of thing.
However, most new musicians do not want to hear it, I'm amazed how many local musicians still approach me and when I ask their aims it's still "sign to a label, tour and build a studio". Like this is 1992 or something.
If you are within the Great British Empire you may be able to listen to the interview - http://www.bbc.co.uk/programmes/b069xcys