The undertow of disruptive innovation and rapid change in media is unprecedented. Video's measured penetration and effectiveness will be the key that unlocks a windfall of digital value.

As distinctions blur across screens on Internet-connected tablets, smartphones, computers and televisions, two things will happen. Economics and content will become more integrated and ubiquitous, and a more universal interactive experience will emerge.

While it took cable three decades to dominate upfront advertising, it is as vulnerable as the broadcast networks to inroads from ad-supported Internet players Google, YouTube, Yahoo Hulu, Facebook and others.