Well, there are still LPs, and look how long vinyl's been dead.
I think, at least as far as pop music is concerned, we're headed back to the 50s, when singles (aka 45s) dominated. Jazz and classical will hold on to the prerecorded disk much longer, both because of the nature of the art and because their audience is older and less computer-centered. At some point, everything will be available for download, and everyone will see that as the normal way to acquire music. At that point, hi-rez disks (and that may include CDs) will become an audiophile fetish, offered at audiophile prices. But that day is still a long way off.
I think, at least as far as pop music is concerned, we're headed back to the 50s, when singles (aka 45s) dominated. Jazz and classical will hold on to the prerecorded disk much longer, both because of the nature of the art and because their audience is older and less computer-centered. At some point, everything will be available for download, and everyone will see that as the normal way to acquire music. At that point, hi-rez disks (and that may include CDs) will become an audiophile fetish, offered at audiophile prices. But that day is still a long way off.