…But interviews with executives at record labels, Internet companies and research companies revealed a much more complex array of problems facing the music business than just digital piracy.

"It's not all file-sharing," said Andy Gershon, the president of V2 Records, home to the recording artists Moby and the White Stripes. "I do think that right now, the business is sick but music is great."

Other record label executives agreed. Among the problems they cited were the consolidation of radio stations, making it harder to expose new bands and records, and the lack of a widely popular musical trend like teen-pop, which relied on stars like Britney Spears and 'N Sync to drive young people to record stores.

They also blamed a poor economy and competition for the limited time and money of teenagers and young adults, their main customers, who often find that they prefer buying DVD's, video games, sneakers and more.

Indeed, thousands of music retail stores have closed recently, and the ones that are still open have given shelf space to competing products, like DVD's and video games.

In addition, the introduction of CD's in the early 1980's encouraged consumers to replace their vinyl records with copies in the new format, but that sales spike has since abated.

And as major record labels have become part of large international corporations, industry insiders say, less attention is being paid to discovering and marketing music properly.

"So many labels are in play — they're trying to be acquired or acquire another company or merge — so anything that affects their immediate balance sheet is slashed," one record-label executive said. "Money is not being put into marketing and A.& R. because people don't want to spend the money because it looks bad on the balance sheet."