Fun fact:
"Download youtube mp3" is one of the most searched terms in google! It's really that mainstream. But that doesn't surprise me at all. Who pays for music anyway? In my opinion mostly people who don't understand the internet. If you are a millennial born and raised on the internet, you simply don't pay for music. You download whole albums with a torrent software or convert youtube video's to mp3.
Music used to be a lucrative business before the internet. Now artist have to live from doing shows. If you don't get bookings, then simply forget it. Nowadays, money you get from downloads/streaming is generally really peanuts. Unless you are really popular but even then it's not as lucrative as doing shows.
But in essence this is getting a problem. You see this trend in more things, people don't want to pay anymore for digital products. Music, apps, blogs, video's, ... it's all supposed to be free. So you need other ways to generate revenue. For example endorsement deals, selling advertising, bookings, merchandise, ...
I think because of this quality has gone down of products. How are you supposed to deliver good quality if people want things for free. Then you have to find workaround.
It's like with fast food joints, they don't make any money baking fries. You know how they do make money? By selling small ketchup bags for 10 times the price and by selling soda mixed with lots of water and ice for 3 times the price. But the actual fastfood itself is even a losing business. If they would only sell the fastfood without up selling you they would go bankrupt. Same with the cinema theater business, it's all about that popcorn they sell.
Pricing power is really something strange if you thing about it. It depends on companies not undercutting each other. Take for example computer software. It's a much better niche than building apps. People don't complain when they have to pay 200 bucks for Microsoft office. But an app that costs 10 dollar is just unthinkable, apps are free for the lite version. And a pro version is maybe a dollar at most.
It's not really that digital products are supposed to be free. Otherwise Oracle and Microsoft wouldn't be a thing. It's more about the barriers to entry the market, price elasticity and your competitive advantage. Apps are just easy to make, you could do it in your spare time. So people do, that's why there are 100 apps in every type of niche available. On the other hand, try to compete with Microsoft. I wish you good luck (sarcasm).
For the music industry it's all the same thing. The same economic forces apply.