Yes; it was, at that time, growing to replace the once-huge sheet music market. Before recording, sheet music publishers had the power in the industry that we today associate with record labels. Billboard Magazine was founded to track sheet music sales, not records.
It's also why it was very common for 18th-Century Europeans to be able to play some musical instrument. If you wanted music, you usually had to make it yourself. And today that is reflected in the populace... I don't have figures, but I'd wager a higher % of Europeans than Americans play some instrument, because Europe has had that tradition for a few centuries.