The Week: Advertising news - Marketers hit by YouTube

Marketers are being forced to relinquish control of how their brands are perceived by consumers because of YouTube, according to Johan Jervoe, the corporate vice-president of global marketing at McDonald's.

At an Economist summit for marketing directors last week, Jervoe told delegates that traditional marketing "isn't working" and that brand owners needed to move toward a "consumer-driven" advertising model. However, Jervoe admitted that there are significant risks associated with the move and that most of his colleagues in the marketing department were unaware that YouTube existed.