What physical product are they stealing? The record companies brought it upon themselves, by continually passing off the junk they do as music, and by reducing what they produce to nothing but computer bytes. If they were to go back to nurturing (and giving creative freedom) to talented musicians, producing albums that were the total package...artwork, photography, historical and informational notes, the words, a cohesive and meaningful theme, people would buy them...just as they still purchase movies and books, even though movies can be copied and books can be borrowed at the library.
Why do you think dinosaurs like Mick Jagger, Bruce Springfield, and Jimmy Buffet keep selling out concerts and having a following? Maybe, just maybe, it's because what they create for their fans doesn't s---.
Why shouldn't the kids download this junk? Even they know it won't be worth listening to two weeks from now.
If it has no value to them, they won't waste their time downloading and listening. If it does have value to them, they need to pay for it.
I'm not crazy about some of our copyright laws, particularly as they apply to older works (especially those that are no longer produced.) I personally think the Beattles have made their money off of Love Me Do and it should be in the public domain by now, but I won't begrudge anyone the right to make a buck off the song they wrote last month, even if I consider it junk.