New advertising models for content portals? Or new communication models for advertisers?

Content portals with social networking capabilities are essentially products of Web 2.0. Yet the business model remains traditional which is selling advertising space and sponsorship opportunities to targeted advertisers - the conventional pull strategy.

If content is king (and I'd consider applications as content too, just look at Facebook!), then these portals should be the holy grail to many marketers dream of easy-peasy branded content. Perhaps, these social media sites/content portals should re-look at their business strategies. No, nothing is broken and nothing needs to be fixed. But the question remains, if we've evolved from 1.0 web habits, shouldn't the business model do too? The opportunity I guess lies in repackaging and/or rewriting existing data to become knowledge that will serve a multitude of niche markets (think long tail). There is a huge difference between traditional advertising space in content portals (my brand, your space) versus branded content (your content, my space) in terms of the communication delivery and effects which should ultimately optimize both user and brand experience, creating win situations for both.

Example. (I hope I'm not being too hard sell, but you get the point)