Which Came First: The Advertiser or Quality Content?

Warner Brothers plans to produce more digital content, but desperately trying to understand how to innovate before a realistic advertising model is worked out:

“The studio, part of Time Warner, plans today to introduce 24 Web productions in a range of formats including minimovies, games and episodic television shows. But for this latest online push, Warner Brothers has discarded its initial strategy of insisting that advertisers shoulder production costs from the start. Instead, it has decided to finance most projects itself and worry about lining up advertisers to recoup costs later.”