A report from Nielson shows that most music consumption amongst young people happens on Youtube.
64% of teens listen to music on the video streaming site, and who can blame them. Piracy angle aside, it's virtually an on-demand music service without ads, that is free to use. However, as Youtube counts for just 7% of the discovery of new music, usage habits suggests that its just to pull up songs people already know (album playlists, individual tracks, etc).
While the report primarily discusses how the radio is still a key player in music discovery and consumption; but these new trends, which quite frankly are unsurprising, show that this technology could very much be on the way out.