A new Forrester Research study on U.S. interactive marketing portrais a rather grim picture for the traditional media.

Interactive marketing will near $55 billion and represent 21% of all marketing spend in 2014 as marketers shift dollars away from traditional media and toward search marketing, display advertising, email marketing, social media, and mobile marketing.

The cannibalization of traditional media will bring about a decline in overall advertising budgets, death to obsolete agencies and a publisher awakening.