The net hasn't killed TV just yet because mass broadcasts online are prohibitevely expensive when at all possible:
"The internet is not an open video platform. Video distribution of any scale places you at the mercy of just a very few CDNs [content delivery networks]. You literally have to compete for timeslots for very large events. If you want an interesting excercise, call up a CDN and ask them how much it would cost to support an audience that is never smaller than 10k simultaneous viewers for a 1mbs stream, 24 hours a day, for 365 consecutive days. Then call up one of the satellite providers and ask how much they would charge you to deliver to 100pct of their customers, and then call up a cable company and ask the same question. Total up the cable and satellite numbers and compare them to the internet costs. You may be surprised to see which is cheaper."
- Mark Cuban