The last decade has seen the record industry shrink by 64% between 1999 and 2011. The amount of money spent by the average music listener in the United States fell from $71 to $26 during that time. There have always been doomsayers predicting the end of the music industry as we know it, but it looks like this time, they’re right.

The steep decline has been fueled partially by music piracy, but that doesn’t tell the whole story.