Oh-oh. This doesn’t bode well for traditional media…

A study finds that U.S. consumers are increasingly shifting their attention away from traditional, advertising-supported media in favor of entertainment such as the Internet, video games and cable TV, which consumers pay for.

As a result, the boom in online advertising is expected to continue, with all Internet advertising spending - including ads on Web sites of traditional media outlets - overtaking print newspaper advertising in 2010 as the largest advertising category, according to a report released Tuesday by Veronis Suhler Stevenson, a media investment firm.

Time to take another look at the marketing mix?