You say you don’t get this media 2.0 stuff? Well, here’s a must-read commentary from Jaffer Ali, founder of PennMedia. Mr. Ali’s company specializes in pre-roll online video advertising, and this article deftly makes the case that ad agencies who buy Websites as opposed to the content of Websites will soon be obsolete.

So we see that content, even if only text, is king. But this theory is about to be kicked into full gear with video content. With video content poised to become the most desirable content to which advertisements can attach, how important is the selection of a particular Web site? Pre-roll advertising will attach to video content wherever it is. It could be on a video iPod. The content can be on a well-branded Web site, or it can be on a Web site that gets only one thousand page views a month. The video content is the packet or brand that is important, not the Web site or even device.

When a user initiates the view of video content, the audience is self-selected. The audience for “Seinfeld” clips is the audience that an advertiser covets–regardless of what Web site or device it is on. This fact is missed by most media agencies right now. If they do not understand the new dynamics, they will make themselves obsolete.