To be sure, the industry hasn't enjoyed the strong growth it saw in previous decades. Revenues are down slightly since the peak about a decade ago. But there are still plenty of opportunities to earn a living making music fans love.
Update (October 10): The recording industry disputes the data underlying this chart, arguing that it double-counts some of the revenue in the "publishing" category. The Recording Industry Association of America estimates that music industry revenues fell by 27 percent between 2001 and 2012.