So I took a moment to watch this video, and this guy is a genius. I've always loved watching his videos, and you should check out his channel. The video below addresses what many composers, singer-songwriters, and music lovers in general fear:
Will we ever run out of new music?
In my opinion, I think it's safe to say that we won't, especially if you venture out into 'contemporary classical' territory, or even blur the line between that and sound art where pitch and rhythm (which is used to calculate whether we'll run out of new music) is of slightly less concern. The video mainly talks about popular music, and even references 'The Axis of Awesome: 4 Chords' video, which finally addressed my pet peeve with so many songs using the same four chords 'I-V-vi-IV', leading to so many melodies/ songs sounding similar.
and the 4 chords video: