Has ‘reach’ become a vanity metric in a fragmented media landscape?

It wasn’t too long ago when the concept of 'reach' was a relatively straightforward one: marketers could buy spots during popular TV programming and rest well knowing that millions of eyeballs would see their messaging.
But the increasingly fragmented media landscape - largely spurred by skyrocketing mobile usage and an abundance of new ways to consume content - has made 'reach' a trickier metric to rely on in recent years. 
At an event hosted by The Drum earlier this year, Neil