Today Mark has a blog post about online video verses TV, comparing the two as "snack and meals", where online video = snacks and TV = meals. On the surface this appears to be accurate, but Gen Y's media consumption tells me otherwise. I'll explain relative to food.
Eating healthy requires several small meals per day, some might call snacks, versus, say, 3 large meals. In fact, one might argue that provided the small meals are of nutritional value that they could replace the concept of the sit down meal all together. Gen Y is consuming snacks, not meals. Given that, including declining ratings and newspaper circulation, this tells me that snacking is the new meal.