Tradition marketing or Digital Marketing

The debate continues as to whether digital marketing is overpowering and surpassing traditional marketing or not. Many think that for the most part, digital marketing has taken over and traditional marking barely exists, if at all. Recent occurrences such as the magazine giant, Newsweek switching to totally digital publications cause ripples throughout the marketing arena. Over the last year or so traditional marketing had fallen nearly 160% while in the same time frame expenses for digital marketing increased over 14%. Are there any real advantages to using digital marketing over traditional means? And what is the big difference between these two anyway?