The annual massive PricewaterhouseCoopers report on the entertainment and media industries out today is music to the ears of traditional media.
"The oft-reported death of traditional media remains greatly exaggerated," the report notes.
While there is no question digital revenues will grow strongly in the years ahead, the report says conventional television's revenues will, too (if not at the same clip).
Media revenue overall will hit $2.2 trillion by 2012. Of that, digital and mobile revenue will account for only about 11 per cent.
The hardest hit of all media will be the music industry, PwC forecasts.
As for newspapers, the report predicts that Web revenue will account for about 15 per cent in the U.S. by 2012. Revenue will grow, albeit at a rate of less than three per cent, worldwide.