Actually, that graph is half the story. The numbers are simple:

TV remains a huge market, but it is increasingly fragmented:

If Broadcast (CBS, ABC, NBC) are seeing a shrinking audience, why do they still command a considerable majority of ad dollars? That is what marketers are asking themselves…

Marketers understand that the future of all media and advertising is web-based. This does not mean that all advertising will be placed online, but a majority of it will, and all non-web based advertising will be conducted electronically. Who the winners of this titanic shift will be remains to be determined, but the fact that will happen is pre-determined.

The fact that audiences are continuing to shift online and video content is gathering more and more steam is just a manifestation of all of these trends. The strike is just accelerating this trend and forcing media companies to shuffle their cards… but one reason why greater audiences are shifting online is that the concept of prime time TV is dead. We want the content we are looking for when we want it. Just imagine the day when search engines’ technology catches up with video content… then it’s lights out for TV companies.

It certainly is an exciting time to be in digital media, and video in particular.