Quite a direct statement and yes, a pretty damn obvious one at that...
The question is how will brands succeed?
The most interesting thing for me at the moment is how are agencies adhering to this? Here in the Nordics there have been mass lay-offs during the past months in both media / ad agencies. The majority of these lay-offs have been old-school folk with little apprehension of the new landscape... When the economy starts to strengthen and brands/companies start to spend more again, those who were laid off will be replaced by new dynamic thinkers who understand the new landscape...
I still strongly believe we need all the heads involved though - old school advertising & new school. Strategists are a key simply as they put it all together but those in the old landscape, those who were the best at their medium will be strong assets because they like any other people who have lived through years of advertising/media "should" know what works and what doesn't...
The obvious answers like some have written - video, blogs, social media, viral etc... - Yep - obvious but how, when and for what reasons will only be uncovered successfully by great teams - client side and strong inter-agency interaction which many of us agency folk know has always been the downfall of campaigns being successful.
I for one, know that online is the new offline but it takes a great deal more than a brand saying "lets go online - give us Facebook, Blogs etc...."
I just posted something about the economy here in Finland that looks a little into this from a differnt angle:
http://community.brandrepublic.com/blogs/talesfromthenordics/archive/2009/09/03/is-the-market-going-further-down-or-up.aspx
Stay tuned...