This is a complicated issue. In my opinion, downloading music for free on the internet is stealing. Despite this, I still often use online downloading for music, and I don't feel guilty about it at all.
In my opinion the ethics of pirating music depend greatly on the artist. Downloading and torrenting the music of artists you might here on the radio (Lady Gaga or.... I don't know, what else do they play on the radio these days?) isn't worth thinking a third time about (but always think twice). These artists can make money buy selling concerts, merchandise, advertising, and various other aspects of their image.
Stealing music from an artist who doesn't have that kind of mass appeal and marketability is the real crime. Because you are actually stealing the livelihood of that person.
In the end, if you like someone's music, you should make an effort to contribute to their album/record sales. If you can't manage that for some reason, most artists will just be happy to have their music heard.
Many artists would make music even if their was no opportunity for income. In general, the music is a passion, and the sales is a job.
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