Most Gen Y have joined a social network

In 2010, Generation Y passed the number of Baby Boomers and 96 per cent of them have joined a social network. Most of them have smart phones and are creatures of the web, and ample studies show their TV viewing is spirally vortexing’ downwards. Long form entertainment, chopped by distracting irrelevant advertising is just not cool anymore.
So Shall TV Be Disrupted? Or Democratised? Or is That the Same Thing?