The business model of TV networks is free programs paid for by ads. There is nothing technically or financially revolutionary about putting shows on the Internet. And thus the networks didn’t have a weak spot that could be exploited by a newcomer, as Kazaa and Skype did in their industries. Joost hoped that a twist on Kazaa’s peer-to-peer technology would reduce the transmission costs of Internet video, but the price of bandwidth has fallen so much that this didn’t provide any edge.
Source: The New York Times
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