Scott says that some disagree with Leo that physical media is going to die out. Leo says it's easy to tell just by seeing how many Blockbuster video stores are closing. Scott agrees and says that UHD may not even have blu-ray discs. RED is creating a new 4k network, as is Sony, streaming from the internet and storing it to the hard drive. No physical media, however. Admittedly, though, streaming relies on high speed internet and that has it's own problems.
Will it go completely away? Well, albums haven't, but they are extremely niche oriented. The general trend is away from physical media to streaming on the Internet, though. Scott says it's a balancing act between convenience and quality. There is a quality hit with streaming, but it's improving and for the majority of consumers, it's good enough.