In 2006 Rapper "Nas" released a CD called "Hip Hop is Dead". Much of the industry paid no attention to his statement but it was in the back of everyone's mind. At that time a lot of the new artists coming out were from the Southern United States and produced what was called "ringtone rap". Their music had no substance for thought, it was all about cars, girls and money backed up by lots of bass and a nice overall beat. The days of rappers such as Nas, Jay-Z, 2Pac, Notorious B.I.G. and KRS-One seemed to be over. However, in recent years new life has been injected into Hip Hop. Many of the best artists in Hip Hop today have only been around from 2007. Names such as Cory Gunz, The Game, B.O.B., Papoose, Saigon, Lupe Fiasco, Wale, Drake, Kid Cudi, J.Cole, and Asher Roth have surfaced from the underground. These artists feature an excellent mix of lyrical ability and a mainstream look, which record labels love because it means the artists are marketable. From the names I listed above Lupe Fiasco is probably the best overall. He features amazing lyrical prowess along with a mainstream connection. He got his big break on Kanye West's single "Touch the Sky" and it's been a roller coaster ride ever since. He's actually been saying he's going to retire after his next album but the entire Hip Hop world hopes he's just joking. Then, you have the other guys who are not to be slighted. They all have the abilities to make it to the top of the Billboard charts which a couple already have, it's just up to them whether or not they'd be willing to work for it.
Add everything to the fact that great Hip Hop artists like Jay-Z, Nas, and Kanye West are still producing music and you have a recipe for success. The fact is that Hip Hop was dying when Nas brought out that CD in 2006 but it clearly was not dead. It seems as though Hip Hop will be in good hands for years to come and to think any differently would be foolish. I didn't even mention many of the great underground artists who have yet to make it in the mainstream Hip Hop world. All Hip Hop fans can do now is wait and enjoy the great years to come. There will always be the artists in the middle such as Soulja Boy who are only in it for the money but once you filter those guys out the cream rises to the top.
Below is a Youtube video featuring a few of the up and coming artists on one song:

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