"Of course we expect to see the numbers of unique users of our websites come down dramatically...The industry is making the mistake of chasing millions of users by giving the audience more and more content for free - an obsession with traffic that just doesn't pay."
Everyone should stare at that last bit for a while: "An obsession with traffic that just doesn't pay."
Here is a prediction: when the history of the Internet is written it will be observed that it did two things of significance for the media and advertising world (both fabulously ironic):
Thing One: It brought to a close years of misadventure searching for Wanamaker's famous other 50% and inspired a new generation of brand marketers to put intuition and creativity first;
Thing Two: It brought to a close the media's obsession with traffic (i.e., audience for audience sake) thereby eliminating media waste, which will have been the very thing, of course, to put things right for Thing One.