South Africa, Jan. 3 -- These are dangerous days for advertisers - at least those who have used television as the foundation of their communication strategy.

Google and Facebook on the one hand and Netflix on the other have structurally undermined a century-old economic model: the former two by advertising-led monetizing of intent and social interaction in the absence of content, and the latter one by monetisation of content in the absence of advertising.

In the former instance, massive outflows of cash combined with a diversion of attention from print media eviscerated the legacy publishing model. In the latter, the creation of an appetite for ad-free video diverted time, attention and money from traditional ad-supported television.

A...