Just attended a rather entertaining breakfast at the Four Seasons, organized by THE WEEK and The Conference Board who invited Martin Sorrell, Mel Karmazin CEO of SIRIUS Satellite Radio, Dan Rosensweig COO of Yahoo! and Michael Wolf COO of MTV Networks.
The panel discussion on “The Digital Media Revolution” was 1 of a series of events THE WEEK and The Conference Board have organized through this year.

Highlights of the discussions include:

1. Although the click-through rates of online ads are not great, brands should still invest in online advertising because of the measurability and the exposure to a niche group of eyeballs.
Broadcast advertising will continue to decline due to the increase adoption of DVR, however big TV events like the Superbowl and The Academy Awards will see a bigger advertising spend for the 30 second commercial [frightening thought].

2. In two years publications like THE WEEK will not exist.

Conclusion:
It was obvious to me that each panelist knew the facts and had very strong backgrounds. However, what seems like a growing issue for me is that they have not grown up with the internet, they have not blogged, they have never joined a social network, etc.
Martin Sorrell explained that if he wants to find out about the latest thing online he asks his grand children… Makes total sense to me, but I think he should just ask me!