Agencies have made it clear. They prefer buying audience to buying media. The data and ad exchange technologies have evolved to the point where individual users can be tracked and targeted regardless of their online context. But this represents a tectonic shift in the way both advertising and publishing, buyer and supplier, have built an industry over a century. Where do these forces lead? Is all big media ultimately commoditized? Will we soon see a “programmatic upfront?” We open OMMA Audience Targeting with a big think about the larger implications for the big shift.