I think it's certainly possible.
Virtually all of Buddy Holly’s masters were lost in the fire. Most of John Coltrane’s Impulse masters were lost, as were masters for treasured Impulse releases by Ellington, Count Basie, Coleman Hawkins, Dizzy Gillespie, Max Roach, Art Blakey, Sonny Rollins, Charles Mingus, Ornette Coleman, Alice Coltrane, Sun Ra, Albert Ayler, Pharoah Sanders and other jazz greats. Also apparently destroyed were the masters for dozens of canonical hit singles, including Bill Haley and His Comets’ “Rock Around the Clock,” Jackie Brenston and His Delta Cats’ “Rocket 88,” Bo Diddley’s “Bo Diddley/I’m A Man,” Etta James’s “At Last,” the Kingsmen’s “Louie Louie” and the Impressions’ “People Get Ready.”
The list of destroyed single and album masters takes in titles by dozens of legendary artists, a genre-spanning who’s who of 20th- and 21st-century popular music. It includes recordings by Benny Goodman, Cab Calloway, the Andrews Sisters, the Ink Spots, the Mills Brothers, Lionel Hampton, Ray Charles, Sister Rosetta Tharpe, Clara Ward, Sammy Davis Jr., Les Paul, Fats Domino, Big Mama Thornton, Burl Ives, the Weavers, Kitty Wells, Ernest Tubb, Lefty Frizzell, Loretta Lynn, George Jones, Merle Haggard, Bobby (Blue) Bland, B.B. King, Ike Turner, the Four Tops, Quincy Jones, Burt Bacharach, Joan Baez, Neil Diamond, Sonny and Cher, the Mamas and the Papas, Joni Mitchell, Captain Beefheart, Cat Stevens, the Carpenters, Gladys Knight and the Pips, Al Green, the Flying Burrito Brothers, Elton John, Lynyrd Skynyrd, Eric Clapton, Jimmy Buffett, the Eagles, Don Henley, Aerosmith, Steely Dan, Iggy Pop, Rufus and Chaka Khan, Barry White, Patti LaBelle, Yoko Ono, Tom Petty and the Heartbreakers, the Police, Sting, George Strait, Steve Earle, R.E.M., Janet Jackson, Eric B. and Rakim, New Edition, Bobby Brown, Guns N’ Roses, Queen Latifah, Mary J. Blige, Sonic Youth, No Doubt, Nine Inch Nails, Snoop Dogg, Nirvana, Soundgarden, Hole, Beck, Sheryl Crow, Tupac Shakur, Eminem, 50 Cent and the Roots.
Difficult to overstate the scale of the loss and the staggering fact that it was more or less swept under the carpet by UMG for a decade or so.