To pick up on Iolo's point re; niche TV channels I think it is a question of timing. The narrowband internet was the first iteration of change and it has had a massive impact on the magazine and print business. Trinity Mirror have recently announced massive cutbacks as the advertising migrates online - arguably perhaps to the search engines. The broadband internet, which will impact on the TV model for distribution is about 10 years younger than its narrowband sibling and the "value chain" from advertiser to consumer to rights holder etc has yet to fully develop in the broadband world. In addition the Pirates don't help as they undermine most live streaming models but legislation and the courts are beginning to get their act together in this area. So the hanging question is when niche online video channels might start to make sense............perhaps 2012 ? Whether these will be "hosted" channels on the YouTube EPG is an argument for another day.