This morning began like most others at the house of Weatherby. Me getting up before everyone else, going through the overnight mail, reading RSS headlines, going out and getting the paper. Finding the iJustine 300 page iBill whirlwind the lead story in the business section of the AJC.

And somewhere along the line it dawned on me that I am no longer using traditional media as my primary media source and thus tweeted “lance is forming a habit of focusing on online media before traditional media first thing in the morn.”

Well I am not alone.

Hugh’s mini post “Most “big media” companies are still headquartered in New York. Most media power, however, is now headquartered in California.” got my attention after I arrived at work.

It seems that Henry Blodgett, who I subscribe to but somehow overlooked, (a broader problem that deserves attention) did a little analysis of old media vs. new media sales growth and market share. The key conclusion is online companies picked up 7 percentage points of market share in a single year. A single year. And that 7% is equal to nearly $1 billion in revenue. And a billion is big.

Henry comes to the further conclusion that the smartest companies, among other things are investing in or buying promising interactive businesses. To those watching this space closely this is not new news. For those that have not I have this conclusion. Build something a traditional media company wants to buy.