That said, the amount of attention people can pay to all media is essentially finite, and new media decreases the hold of old media. In a very real way the internet is killing print newspapers, by drastically reducing the amount of attention that is paid to them.
Likewise, if you look at printed books, they are much less important than they were 100 years ago, largely due to radio, television, movies, computers, and the internet.
That's kind of an arrogant categorization.
1) We all read, regardless of the material the text is presented on.
2) I've bought and borrowed an immense amount of really awful books, and I've read a ton of truly insightful, well worded and interesting stories, posts, discussions online.
Sure internet is ful of crap, but I believe it's equally full of great ideas that wouldn't get a chance to be published on paper, whether that is because the author doesn't feel he/she can fill a book, they are not appropriately confident about their work or any number of other factors.
Online, you can crowdsource the editing process and everything (most) good will be visibly published. If that is not succeeding a medium I don't know what is. Honestly I'm not even comfortable calling them different medias. I believe text is the medium, the same way 2d video is a medium, from 35/70/135mm celluloid through VHS/betamax through all imaginable codecs online. There's really no difference in how you process the information.
And I doubt that the next "The Decline and Fall of the Roman Empire" will originate online either. It might be advertised online, eventually people will pirate it in epub form but no one is putting a great work online first. Because what I'm saying is true.
"I've read a ton of truly insightful, well worded and interesting stories, posts, discussions online"
As have I. It's not worthless, I love the internet. It's just not replacing books. When all the drives fail that store this conversation, there will be a million copies of The Iliad still in existence. I stand by my original statement, books dwarf all these other mediums.
There's no difference between a printed and bound book full of (for the sake of argument) Tumblr posts and the same posts online - or alternatively, a betamax video, and the same video captured and encoded in an MKV container.
Sorry for the ambiguous phrasing.
Really? So, TV and movies starved audio commentary and discussion for time? I suspect TV and movies became dominant, but they didn't completely eliminate audio. Games are a new medium, and they seem to coexist with other media. Books don't seem to be going away. If anything, new forms of media seem to be synergistic with the existing forms.