There are plenty of new bands. The record companies are broke because they failed to adapt to new technology in time. The radio stations won’t play anything that doesn’t fit their little tiny idea of what they think people should hear. So bands self release their records and play shows for gas money and struggle. Its a hard life unless you are like Taylor Swift who came to town with $100,000 of daddy’s money and bought a record contract and management.
Half right.
There is PAY RADIO (digital satellite subscription) that white audiences are supposed to go to.
Everything else on the terrestrial dial is hippity hop, pop-dance, or tejano on FM (or 70s-80s oldies 'rock' a set 200 song list, same 200 songs every day, every week, and the same with secretary pool music of the 70s-80s AND BEYOND, think Wind Beneath My Wings).
And as you travel to AM you will find sports talk (over half a dozen different stations in my city), political talk (4 stations in my city), religious talk, and everything else is either in spanish, hindi, vietnamese, chinese, korean, arabic etc etc.
There is still money in radio but it has moved on to "other demographics", white people are supposed to pay for radio these days just as they do with television.
There would be a resurgence in music on radio IF the playlists weren't so locked. But then, local television disappeared even before local radio and local newspapers. Nothing serves the market anymore and all of the ratings/circulation figures are down as a result.