Will The Web Do To TV What It's Done To Newspapers?

"If consumers are being retrained to pay less for professionally produced TV content, then returns on capital (Roic) should fall," resulting in the networks trimming budgets and firing personnel.

In the end the networks may be forced to turn towards user-generated content, which, Laura Martin, an analyst with Soleil Media Metrics, said, is no "true substitute for long-form premium TV content.

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