> Global recorded music revenues reached $17.4 billion in 2017, putting it just a hair below 2008’s $17.7 billion in revenues.
So revenue, not adjusted for inflation, is nearly back to 2008 levels, hardly "pre-internet". The actual revenue peak in 1999 was $25.2 billion, which is $37.1 billion, inflation adjusted to 2017. So industry revenue is at less than HALF of pre-Napster levels.
At least they had CD sales they could count on.