In 2011, Mark Lemley published an article entitled, "Is the Sky Falling on the Content Industries?" The article pointed out how the legacy content industries historically tried to block new technologies and complained about how new technologies allegedly would destroy the content industries, and turned out to be wrong each time.
Techdirt and CCIA have now released a report, "The Sky Is Rising." The report assembles data showing that the content industries are doing fine, despite their complaint about various aspects of the Internet. At a minimum, there's plenty of profitable content, even if the legacy business models have had to work to get some of that profit.