Yes.
The studios are the modern 'patrons' of composers, replacing European aristocracy and royalty that had kept such people as court musicians or composers for centuries.
We also have to remember that music schools ar emore prolific than ever, we can have nay music we want instantly and not only that which is playing in town, and also that the music you now refer to as classical was the 'pop' music of its time with the obvious knowledge that current pop music can always trace its roots to the same measures and beats.
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