It seems we are still waiting for the new business models to take shape in media.  Content has moved to digital platforms, but the advertising dollars to support that content has lagged.  According to eMarketer, there is now a lag between marketers and advertisers:

According to a report on 2011 marketing budgets from Econsultancy and SAS, agencies worldwide are more eager than their clients to increase spending on newer digital marketing tactics, while advertisers show a greater interest in upping budgets for the time-tested. For example, agencies were 13 percentage points more likely than advertisers to say their clients would be increasing mobile marketing spending. Advertisers were out in front of their agencies with reports of spending increases for email marketing, corporate websites, paid search and display ads.

Read The Advertiser-Agency Gap in Digital Spending Priorities here.