It's the CONTENT, NOT the Carrier
All the "concerns" voiced by the music and television industry hacks all miss the real answer. Content is still King.
It does not matter how media is delivered, it only matters that the media is worth viewing or hearing. They all said the same things when TV began to supplant film, then again when cable began to supplant broadcast and now once more the same crap when internet begins to win over cable/broadcast.
If you make something that people want and enjoy, they will buy it. Doesn't matter one whit how it is delivered to the consumer, (unless the delivery method is priced out of reach).
If traditional media channels are upset that they are missing revenue because someone else is delivering the same (or better) product in a format that more people want then that is the "Darwinian Evolution" of the business. Too effen bad!
Has anyone noticed that some cable providers have decreased the audio quality of programs to reduce analog bandwidth usage? That 5.1 Surround Sound or even Stereo is not being delivered on many channels in "basic" cable packages. (I'm speaking about Time Warner in the US). No, they're "saving" that "feature" for their "HD and or Digital TV packages".
None of that happens when I download movies or music via the internet. My internet service sure costs alot less to boot.
Let's face it, Analog broadcast is almost dead, Digital broadcast isn't really ready yet and digital over cable architecture is unfairly proprietary. I'm still pissed that I have 125+ channel digital & analog tuners in my TV and I still need a frigging cable box to see more than 60. That and there is still nothing good to watch on more than 15 of them.
Here are some clues for the "Media". Make the best product possible and distribute it without modifying it or requiring proprietary hardware to view it. If you can't compete by broadcast, better become an internet content provider/sales outlet now before it's too late. Don't pay other people to sell YOUR product for you, if you are your own sales portal, you will make more money and will have more eyes on YOUR site, NOT Apple's or Amazon's. After all, the ads on your re-sellers site are probably your competitors. Can anyone say "Adsense"?