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In the broadcast television business, the ground just shifted. Take a look at this NT Times article (registration required):

For the first time, a season is beginning with cable controlling a larger share of viewers than the networks, and doubts are deepening about how many viewers will retain their network habits.

Cable channels are almost certain to grab the spotlight at the Emmy Awards tonight, mainly because one cable channel, HBO, dwarfs the broadcast networks in nominations (124), having earned more than ABC, CBS and Fox combined. Some advertisers, meanwhile, are questioning the value of buying commercials on networks that lose more viewers every year.

Last week, the Mitsubishi Motor Company pulled every penny of its advertising from prime-time network shows, $120 million worth, because, as Ian Beavis, its senior vice president for marketing, put it, "There's nothing compelling in the new network programming."

That sound you're hearing is - to quote Dogbert - the sound of a paradigm shifting without a clutch. Think about the fights over TiVo and ReplayTV, for instance - a large part of the issue has been the ability to skip commercials. The cable channels like HBO don't care about that - they collect subscription money, and don't show ads (other than for their own shows). If other companies start following Mitsubishi's lead, then it's going to be huge.