Not really. Songs or artists are not perfect substitutes to one another; if you want to listen to a specific song from a specific artist, you'll be looking for that song and in most cases another song won't do. Therefore, if it was possible to make this song absolutely unavailable via illegal means, you'd have a very strong incentive to buy it.
Porn videos are mostly perfect substitutes to one another (in their respective broad specialty; a gay sex video isn't a substitute to a straight sex video, but a nurse video is a substitute to a teacher-student one).
Therefore, in order to make people pay for porn, the porn industry would have to make all free porn videos disappear, which is impossible.
It would seem they're in much direr straits than the music industry.