I’d isolate literature from this though. Literature has always been a medium with a limited audience. In the past due to most people being illiterate compared to modern times where it isn’t accessible to many people due to literary complexity.

The last 100 or so years has been an anomaly in that for the first time in history we had a highly literate population that could read fiction. And for much of this era movies and TV were not as accessible to create or consume. But today it is both affordable to create, distribute, and consume fiction via the motion picture therefore making written fiction niche as the audience for it isn’t interested in the literary aspect of it so much as the story telling element. So as we’ve had cumulatively more content disseminated at at accelerating pace it has made most written fiction as obsolete as the parlor singer or traveling news reader. Implanting the stories would do to TV what TV has done popular books.

May be it time or effort, modern story dissemination technology allows people to consume more fiction per hour. I only think most people weren’t reading because they liked to read. They wanted to consume stories and now fiction books are just not able to compete with TV streaming. But literature should be continue on as it has.