Not surprisingly, television has been overtaken by the internet in the UK as the main advertising medium. This is partially because the internet moves and evolves so much faster than TV. But now that television is part of the internet fold it will need to evolve even faster. Companies like Vidiactive are enabling this. Another interesting initiative in this space is NoTube, although their strap of 'making television more personal' might be more appropriate as 'making television more social'.
Welcome to TV 3.0 ;-)