I thought it was very interesting that the authors make the point that old media never really dies out but is absorbed into new media. Music has gone from records to cassettes to CDs to now full digital formats. The niche idea is also very true. LPs and Cassettes are coming back in with indie bands and even some larger bands are starting to release new albums on LPs too.
I have to disagree, however, with their views about convergence. I don’t think that convergence can be reliably predicted nor should it be. If it is then people who are affected by the convergence can be suddenly pigeon holed into the “dying breed” without much ability to change their status. If you predict convergence then you put a timer on jobs and the creative outlets for the particular medium