I spent a few days last week at Advertising 2.0 New York. As if virtually every advertising-related event isn’t in New York City. In my previous job, I found myself traveling the globe on a regular basis, but now that I work in digital media, it’s a trip to New York every couple of weeks.

The program was interesting, and the speakers were strong, but I found myself sitting in yet-another-basement-cum-theater-wishing-for-cellular-signal. This appears to be par for the course in New York. Theaters below ground. Poor signal. BlackBerry blackout.

The thing that amazes me about the digital advertising business is its relative size (small) and its relative impact (large). Even more interesting is the role that advertising agencies play in the process. Everyone gets paid along the way, and it’s expected that either you’re managing the client, or you’re a line-item in the budget.

So here are a few trends that appear to be surfacing:

1. Widgets are the new Flash. I’ve long said that “tapas” is Spanish for “starvation” and that “flash” is English for “a make-work project for graphic designers.” So as we send Flash sites on a brief vacation, we’re now employing graphic designers and out-of-work (as if there’s such a thing) AJAX programmers to develop advertising widgets. It’s supposed to be a really big thing because Microsoft valued Facebook at $15 billion even though everyone is losing money in social networking…including advertisers.
2. TV is important, though there’s a new generation that’s going to make their money in TV by not hoping to make their money in TV. Crazy as it may seem, the best way to get a date is to have a date. So there are all sorts of people hoping to break into television (and who will make their money in television) but who don’t appear to want to make their money in television. I still can’t figure this one out, but then again, I just watched Grey’s Anatomy for the first time (with the sound off) the other week. We have these neighbors who invite us over but who don’t turn off the television when we arrive. After 20 minutes, I start drinking Scotch in the hopes that I won’t be distracted by the flashing images.
3. Internet video is important, but “the business model” is different. As in “non existent” or “money-losing.” As in “the business model for internet video is a ‘money-losing proposition for all involved.’”
4. The canoe is small, but there’s room for others. Perhaps IPTV and satellite (which already has a small watercraft of their own design) could participate in paddling, portage or navigation. Everyone agrees that there needs to be a single set of standards for digital advertising on network-delivered television.
5. Social networks are important but nobody knows what to do with them. Agencies are willing to help. This is the perpetual pitch from the agencies. This stuff is new. Nobody has any idea why we’re talking about it. And we’re willing to help…for a fee.

And that’s the news that’s fit to print from Advertising 2.0. Thanks again to Victor Harwood, the team at Digital Hollywood. And Advertising Age for putting on an excellent show.