Yes, breaches have always happened. There have been some very high profile ones in the past like Sony and Adobe that caused governments to create laws forcing registered businesses to disclose breaches where Personal Identifiable Information is accessed. So you are hearing more because they are forced to disclose more.

The other side is hacking tools have become far more powerful with a much lower barrier to entry.

Previously you needed to find and build your own tools for exploits. A considerable amount of private hacking groups will sell access to their tools for others to use leading to the rise of Ransomware as a Service (RaaS). Hackers poking fun at the current XaaS naming (SaaS, IaaS, etc.)