Video advertising will be the single most important development over the next 12 to 18 months. This is where the leaders will stake their ground.

A rush of spending, investing and deal-making marked the continued rise of digital advertising in 2005. The landscape in 2006 is already serving up another year of powerful developments, particularly as media continues to migrate online and new digital formats and technologies emerge and mature.

I think it reflects that there is a commitment to online advertising, there is a recognition that is part of a long-term retail strategy.

I'm very optimistic about the success of the holiday season. Retailers in early 2006 will realize they have to make the same brand commitment online as in stores.

They are clearly willing to invest. They are clearly very patient.

Waiting rooms might be the right thing technically since they can regulate the number of streams. But that may end up being frustrating for those that don't get in. The interest is high but there are risks for advertisers and CBS.