You know what else is interesting - the means to produce music and movies is moving down market, fast. My friggin phone records HD, and my Mac comes with some basic music production software, I can self-publish my own books on amazon or just host them electronically myself.. and this trend is only accelerating.
So will we see less art in the future? Absolutely not - we'll be seeing huge amounts more, and from people who may not have had access to, say, a recording studio in the past. The economics are changing on both ends of the "business," which I think is a net positive.