This is not an abstract idea. We have known this since the early days of personal computers, and it becomes more true everyday. There are several obvious benefits to paperless media. It costs nothing to produce content (no paper or ink to buy, or delivery), all it takes is some free time and a laptop. The entire world can view and share the content that you created, with their friends. Many people make their living simply off creating some form of entertainment or content for the average consumer.
Of course, print media is not dead, and there will always be a place for it. There is the benefit of the tangibility of print media. You can pick up a book, take it with you to the beach. You can hang a picture on your wall, put it in your wallet and carry it around with you all day. There is a certain poetry about the print media, and while it might not ever be completely useless, it is and will continue to be made obsolete on a yearly basis.
Currently, paperless media is quick and convenient for those that rely on it. More and more, books are going paperless and sold online as micro transactions. Below is a link to business weekly, please read the following article and consider the pros and cons of paperless media. http://www.businessweek.com/debateroom/archives/2008/12/the_print_media_are_doomed.html
Will paperless media eventually overtake the print media completely? Or will they find a place to coincide?