30 years of used CDs are on the market, nearly 70 years of LPs and 45s, nearly 100 years of 78s.
Additionally there are tens of thousands of labels/artists who’s new release recordings are not tracked by soundscan.
BIG MEDIA is losing sales but there are plenty of active musicians recording and touring, locally and nationally. These are full-time musicians with no day job.
I was noticing that when songs are released they are almost immediately available on-line, sometimes on Youtube within minutes. They don’t make much from that, but fans go to concerts - that is where the money is made these days. Not in album sales.