Ringtone sales hurting CD sales is not the relevant issue here. The real question facing the industry is will the continued evolution of digital content distribution make CDs (and then DVDs) obsolete? Just as CDs made vinyl records a thing of the past, will digital content do that to plastic CDs?

I, for one, certainly hope so. While it will take time, content must now be de-coupled from the medium. Right now, the concern is about TV programs, music CDs and movies that you watch in theaters. Going forward, the continued progression of broadband — both wireless and wireline together with the revolution of peer generated content communities ? will enables a world in which every piece of content is digital and accessible on every device, be it video, audio, mobile and yes, even print. The user picks the device and the content and experiences the interaction as they see fit.

This ?democratization? of content and access does NOT mean a lack of revenues for content creators. In fact, I think that making content available ?anytime, everywhere? will increase revenue potential for the content creators and owners. Not decrease it as is currently thought. Imagine a world in which I missed the last episode of The West Wing and I catch it on my phone as I sit on the runway at JFK for several hours waiting for weather in Atlanta to clear up.

Equally important, the liberation of content from devices does NOT spell doom and gloom for advertisers. Rather, the advertiser can, in this new world, access consumers based on the actual content the consumer is experiencing, rather than a bulk media buy which targets demographics rather than individuals.

So, a new era is coming. And, it will be better for everyone — consumers, content sellers and advertisers.