Art Movements - Are they dead?

The following is from "Wikipedia"-

Art movement

An art movement is a tendency or style in art with a specific common philosophy or goal, followed by a group of artists during a restricted period of time (usually a few months, years or decades). Art movements were especially important in modern art, where each consecutive movement was considered as a new avant-garde. Movements have almost entirely disappeared in contemporary art, where individualism and diversity prevail.

To repeat -
"Movements have almost entirely disappeared in contemporary art, where individualism and diversity prevail."

Is this true? If so, is there room or time for another "movement"?