This film (22 minutes, in total) takes a look at the decline of sound quality over time, and sees how technology has effected how we listen to music.
They are absolutely right. Compression does weaken music. However, I can't help by think they're exaggerating substantially. Sure, it's a big problem (and to be honest, I don't know enough about the sound engineering aspects of recording music to vogue for the validity of their statements), but I think that music and the way we listen to music is going to be constantly changing, no matter what we do.
We can still feel the emotion, can't we? Maybe music sounds a bit better in a studio with speakers surrounding you which are playing every sound rich and uncompressed, yes, but we're not all listening in studios. I don't think that mp3s or other compressed music can provide the full experience of hearing music live, but I don't think that any format can, and for me, live is the best of all.
While I don't agree with all their points, I do think it's important that there are advocates for high quality music fighting against the constant compression we are facing: though I don't think going back to vinyl, CDs, and cassettes is the answer, I think it'd be great if we can move past the mp3 to another data form that still allows us to really hear the full power of the music.
I'm curious, what's your preferred format? Do you expect a huge change as we switch to streaming in the music industry?
@caricakes I know you'll be interested in this one!