No, Blogs are way too different from what most people call social media. The simple reason why it cannot be called social media is that there is very little what is common between blogs and every other, that goes under this category. When we say traffic from social media, we never mean traffic from blogs. Please don't forget blogs are Publishing Tool, something equivalent of Books & newspapers. Can you say the same thing about Twitter, Facebook, Myspace... This discussion erupts too often both online and offline. Problem with including blogs under this category is that it is not meant to be what every other on the list is. Blogs are not meant for saying Hi, Hello, Good morning, Good evening... In a nutshell, it is not meant for socializing. Are Social media and Social Networking synonyms? Yes, they are almost the same, at least they are used as such in practical day to day life, and people who says Blogs are social media are not bloggers or are not using different platforms. While researching on this topic, I hit upon two posts.
Copyblogger has immense clout on internet audience, and so people tend to agree with him at least on the page, but the response from the another poster is more realistic and it is apparent, the author has realised, the need to differentiate. It is useless to argue what the term originally means and what is the history of the term. Do you know the history of the term Spam? Do you still believe Spam is a kind of food and would like to stick with this notion? So, people who claim blogs are part of social media may also educate you what the actual meaning of spam is!