Looking ahead to 2012, Channel 4's new business director Rod Henwood warned against defensive business practices and said traditional media businesses would be attempting to "defy history as well as gravity" if they stick to a one-platform model.
"Newspapers' previous response to online growth has not been a great example," he said.
"The industry is going through an evolution rather than a big bang, but old media can do better to embrace digital media and to reinvent itself."
He predicts that by 2012, on-demand viewing will account for a quarter of Channel 4's audience. Non-TV viewing, online, on mobile phones and through portable games devices will be a major platform for younger audiences.
"It's not our role to bet which platform will be a winner or loser," he said.
"We have to be ubiquitous with our content."
Listing seven action points for traditional media companies, Mr Henwood advised delegates to take risks, "because creativity differentiates your products", and to focus on the consumer experience.
He recommended finding a shop window for the brand as well as the product, making promotion as important as distribution, re-purposing content to suit the platform and to be on every possible platform.
He also reminded content producers to protect their own intellectual property, but seemed unable to advise how to combat illegal online distribution.
He demonstrated with a 'Channel 4' search on Google Video pulling up 62 links to Channel 4 content, all of which was apparently illegally copied.
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