Horace Dediu with a fantastic analysis of why the television industry really isn’t ripe for disruption:
What I mean is that there is no innovation in what a program is–the job it’s hired to do. The way it and its distribution fits into a person’s life. TV programs have not changed for half a century. They feature the same genres, the same duration, the same business model, the same series, format and scheduling and the same value chains as when “I Love Lucy” premiered in 1951. They assume people watch TV during the same time each day (while doing nothing else.) They also assume people are equally influenced by brand advertising and that audiences are largely homogeneous.
Contrast that with other media. The song, the book, the game, the newspaper even the movie have gone through consumption changes which have been supported by disruptive innovations.