Is Old Music Killing New Music?

From same article
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Consider these other trends:

• The leading area of investment in the music business is old songs. Investment firms are getting into bidding wars to buy publishing catalogs from aging rock and pop stars.
• The song catalogs in most demand are by musicians who are in their 70s or 80s (Bob Dylan, Paul Simon, Bruce Springsteen) or already dead (David Bowie, James Brown).
• Even major record labels are participating in the rush to old music: Universal Music, Sony Music, Warner Music, and others are buying up publishing catalogs and investing huge sums in old tunes. In a previous time, that money would have been used to launch new artists.
• The best-selling physical format in music is the vinyl LP, which is more than 70 years old. I’ve seen no signs that the record labels are investing in a newer, better alternative—because, here too, old is viewed as superior to new.
• In fact, record labels—once a source of innovation in consumer products—don’t spend any money on research and development to revitalize their business, although every other industry looks to innovation for growth and consumer excitement.
• Record stores are caught up in the same time warp. In an earlier era, they aggressively marketed new music, but now they make more money from vinyl reissues and used LPs…….