Does live TV matter any more?

Erick Shonfeld asks:

... On the Internet, does live TV even matter any more?  The TV schedule is a product of the historical limitations of broadcast television, where you have to broadcast the same shows to everyone at the same time.  But those limitations are falling away.  Even in cable and satellite TV, the growth of pay-per-view and on-demand channels proves that if you give consumers more choices, they will grab them.  The Internet is the ultimate on-demand television system, where the choices of what to watch and when have no practical limits. ...

Link: Microsoft Plays With P2P TV, The Next Net.

Thanks to Om Malik, Do we really need Live TV on the Net?, Link:  NewTeeVee.  --Dennis

Li