The idea that the record industry is losing money is nothing new. People have been talking about it for years - for example, there's this 2001 article about online piracy. But hearing about it is one thing; seeing it is another.
This animated infographic gives you the past 20 years of U.S. record industry sales in 30 seconds:
Looks like that pie is on a diet. But it's not just the size that's changed, it's the method of delivery - in 1980, vinyl was king, with 59.8% of sales. Last year, vinyl accounted for 1.3%, while downloads (both singles and albums) made up 32.1% of total sales. CDs are still king, but the market for them, and their share of the market, is shrinking fast.