It's doubtful TV will ever replace the big screen mainly because there will always be movies that people want t see on a huge screen like IMAX.
We're in the day of the Super Hero movie era where Iron Man 3, The Dark Knight, and The Avengers have grossed over $1 Billion each. This goes along with a couple of 'The Pirates of the Caribbean', Alice in Wonderland, and most recently 'Frozen' that also grossed over $1 Billion worldwide.
The first 'Avatar' movie and 'Titanic' by director James Cameron also made well over a $1Billion each. I'm sure the planned sequels to 'Avatar' 'Star Wars' and 'The Avengers' will also be "event movies". People are not gong to want to wait until they get released on DVD or appear on HBO/Showtime.