I've found a compromise I think. I was gifted with an HDTV big screen TV, which I connected to my Bose audio system; I then started a DVD & Blu-ray collection of concerts, including a Royal Albert Hall performance by the Moody Blues.
Now, at 76, my chance of getting to RAH are slim, but curling up with a friend or inviting neighbors over is a pretty good substitute for live music, I've found.
The problem with this study is that, even if true, it does nothing about the real problem: cost. Live music is expensive. CDs are great because they make music accessible for the masses.