NBC's Horst Stipp pointed out that while the online video audience isnt as large as thought, even if doubled, it represents a highly engaged audience."A lot of the full-length programming watched on Hulu or a network site are being watched by fans of the show so you have a very engagedd aud that takes the deliberate step of going to a Web site to see something they want to see," he said. The fact, for both networks and advertisers, that you're reaching a loyal fan base online is important, according to Horst.

That's a catchphrase coined by Nielsen chief Susan Whiting to help refocus her company around the notion that the business of television isn't just television, anymore. It has become video content in all the forms that it can manifest, and all the places, times, and consumer and business experiences and expectations that are reshaping our industry's most dynamic storytelling and product-selling medium. Or as Werner Wolf, the local New York sports commentator used to say on WCBS, "It's time to go to the video." Maybe he still does. I don't know, because I don't watch much "television" anymore. Increasingly, …