Is traditional marketing dying?

After all the talk about Digital Marketing in class and seeing charts that show the growth of digital and decline in print and tv advertising budgets of companies, I was wondering what will happen 5-10 years from now. Will traditional marketing basically die? I think the trend will continue and there is quite a possibility that traditional will become a very small % of ad budget for companies. With the innovation seen in various content generation where companies see engagement through viral marketing, user generated content and tracking the revenue impact through email, display and SEM, it should not be a surprise to see the demise of one-way marketing of print, tv, and radio.
I found this article that talks more about this topic  and is quite interesting -
http://digiday.com/marketing/traditional-advertising-dying-thats-just-fine/