Digital advertising: do brands and consumers think the same about it?

Nowadays, each individual has his own Smartphone, a laptop or a tablet. The days that used to gather people around a movie that is interrupted every now and then by an advert are gone. The rise of internet streaming services, video gaming, and social media platforms just made it worse. We would think that that's it, TV advertising does not worth it anymore, people are spending much more time online than watching television. Obviously, technology change and people habits are changing even faster, but brands are still extremely reticent about allocating a large portion of their advertising budget to the internet.