I don't think that social media is any where close to killing other more traditional forms of communication. People are just discovering a new way to communicate with each other.
Other forms of communication have entered the marketplace over time. Texting (which is also a short and sweet communication avenue) has't stopped people from talking on the phone. While faxing isn't as popular as it once was, every office still has a fax machine that is used regularly. Radio is no longer the way most people get news, but most of us still spend a lot of time listening to it in the car. As communication evolves into new mediums, the total volume of all communication rises instead of all traffic from one medium completely switching to another.
Social media is just adding to the mix of communication avenues and raising the total volume of communication in the world. The Sony video mentions that the amount of information generated in 2010 is more than the sum of the 5000 years previous. This is a trend that will continue and social media is helping to drive it. I still about as much time on the phone as I did 5 years ago, I just happen to spend more time texting and participating in social media. So, my total volume has increased. There will always be a place for print magazines and radio. The saturation of these types might decrease overtime but social media can never replace other more traditional forms of communication. As with everything before, someday a new communications craze will make the social media we find today old news. It will be interesting to see what that new form of communications will be.
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