To Dalton's point there are other interesting markets with barriers. For instance Scrapbooking is a $3B market, 1/3 the size of the music industry by revenue, with 2 tech players. One tech product in Scrapbooking generates $300MM in revenue and faces almost no competition. Arts & Crafts is a $32B industry. Toys is ~$30B, Jewelry is $60B, the list goes on, but there are SO many big markets that are ready for technical disruption that are ignored because they aren't very sexy.
One of my personal goals for doing the talk is to get people thinking that way. I wish someone would had gotten me thinking that way years ago.
I wanted to put a quote from Aaron Patzer in my talk, but didnt have enough time.
Here is the quote: "For other entrepreneurs aspiring to such an exit Patzer advises solving a real problem. “When I founded Mint there were a ton of startups in the social networking space, and in streaming music,” he says. “I found something that was a real problem for me and I knew for millions of others, and I solved it.”
http://www.slideshare.net/josephflaherty/web-3d-presentation...
On the other hand, you have these enormous obstacles: upfront payments, minimum revenue guarantees, arcane and complicated reporting and security requirements, and strange nuances and differences in costs based on how you are using the music. It's a major pain in the ass.
All of this takes time away from building something people want. If you are lucky enough to find your product-market fit, the barrier to entry will keep competitors away and you'll have a huge head-start.