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In fact, I argue that the future of advertising, whatever the technology, will be to associate each brand with one word. This is one word equity. It's the modern equivalent of having the best site on the high street, except the location is in the mind.

The world is changing. Networks without a specific branding strategy will be killed. I envision a world of highly niched services and tightly run companies without room for all the overhead the established networks carry.

Brand is just a perception, and perception will match reality over time. Sometimes it will be ahead, other times it will be behind. But brand is simply a collective impression some have about a product.

People go to Disney because they know its brand attributes. We believe we have an opportunity to go with our content directly to consumers.

Brands' products should be the manifestation of a company's values. Those values should be the subject of all sorts of wonderful stories that comprise your company's narrative.

Cross platform, we have opportunity across all our businesses to not only take the most well-known and high-profile brands and bring them to life with the guidance of people who know them well, but to incubate new ones.

In fact, I believe the first companies that make an effort to develop an authentic, transparent, and meaningful social contract with their fans and customers will turn out to be the ones that are the most successful in the future. While brands that refuse to make the effort will lose stature and customer loyalty.

Brands are facing a new competitive landscape in which self-definition, core values and purpose will increasingly define their ability to reach customers that only allow what is meaningful in their lives to pass through their filter.