"Technology is enabling consumers to consume television in different ways," Britt said at the event, a panel discussion. "What technology makes available is that people will be able to access an enormous amount of content of their choosing, and that wasn't available in the past."
Some business executives on the panel said they anticipate consumers will reevaluate traditional television programs in light of these changes.
"I predict that the days of $3 million episodes of shows like 'Law and Order' are nearing their end," said Blair Westlake, corporate vice president for Microsoft's media and entertainment group. "I suspect the quality programs that we know are going to diminish, or there is going to have to be a sweeping revolution with how the product is made."
Programs will be replaced by more sophisticated initiatives involving user-controlled content, Britt said.
"We can bring functionality back to traditional television," Britt said. "We want a platform that can bring Internet types of capabilities to television."
This modernization of television will be based on immediately and accurately giving the consumers "what they want, when they want it," Rich Ross, president of Disney Channels Worldwide, said.
"In all these discussions, the consumer is driving the change," said Stephen Abraham, global leader of media and entertainment services for IBM Global Services. "It's a little unprecedented how much control the consumer has right now."
Demands from television viewers who have become more dependent on technology are leading to new and innovative forms of video that will increase television's capabilities, Britt added.
"We don't have wireless capabilities now -- no cable company does -- so we're trying to figure out how to get that," Britt said.
All of the panelists advocated the creation of new business models within the media and entertainment industry.
"The entire model that this industry works under almost has to be blown up and recreated," Westlake said. "The problem is the structure that we work under."
The day-long event featured a mini vendor fair, a lecture by Keval Desai, Google's product management director, and a panel moderated by Abraham.
The panelists included Britt, Ross and Westlake, along with Tony Bates, senior vice president of Cisco Systems.
"Basically, Glenn Britt opened his rolodex and very graciously invited his industry colleagues," Jane Applegate, Tuck public relations and marketing manager, said. "We're really proud he felt so strongly and brought along the top decision-makers in the entertainment business."
