Actually at some point (Probably not next gen, but the gen after) we won't see any form of media at all!
The way things will work at this point is you will only buy the license to the game! (Which could be purchased online using your console or from a games store like Electronics Boutique) You will not actually have any part of the game on your system at all.
I will use Sony as an example here (As they are the ones that have talked about this in an issue of EGM)
What you will buy is essentially a box and controller
The games will only ever be on Sony's machines at there end
When you purchase a game it will be added to a list that your box has in a menu when you turn your console on!
When you choose a game the game will boot for you on Sony's puters and all the required info for picture, sound and controllers etc... would be sent to your box!
Before saying that this is a bad idea, think about the one major positive to this
You would in theory never have to upgrade to a next gen console again as when sony decide to upgrade there puters you would automatically be upgraded at the same time!
This would also wipe out piracy once and for all, meaning that developers get the money they work hard to earn (Possibly meaning that smaller publishers would start taking risks again
Anyway, that is my insight to this argument! What does everyone else think about this idea