The shift to new media is real. I asked in the office yesterday to get someone to name a media company. The first name was Netflix. This chart confirms the trend as a global shift:
In my house the shift to new media happened quite a while ago. When we did our renovations we built a media room downstairs and never put a TV in the lounge upstairs, we meant to, but never got around to it. That was the end of 'casual' TV watching. But we have two family PCs in the home office, the eldest child has a laptop, another has a Chromebook, and there is an Ipad knocking around as well. We all have smartphones. Now on-demand services are consumed in great preference to broadcast services, except when there is a really big game of rugby or cricket that we all want to watch!
This has an impact on how advertisers reach people. I should not, however, suggest that advertising is dying. It isn't: we receive many more advertising messages, and many that are better targeted than before, but it does take a bit more thought. Link.