The economics will certainly be disrupted, but I don't think it will be as rough as it might be. Apple's recent negotiations for a cable subscription package show that content owners might actually make more money per subscriber:
"Another part of the report has Apple paying $2 to $4 a month to the major networks per monthly subscriber, and $1 to $2 for a cable subscriber. "
It's eventually going to grow from a small percentage to the majority. The question is what will the end result look like and who will be the casualties along the way?
http://www.techcrunch.com/2009/12/21/apple-tv-kill-cable/
"Another part of the report has Apple paying $2 to $4 a month to the major networks per monthly subscriber, and $1 to $2 for a cable subscriber. "
It's eventually going to grow from a small percentage to the majority. The question is what will the end result look like and who will be the casualties along the way?