The Wall Street Journal lays it out here.

What occurs to me that apparently hasn't occurred to the geniuses at NBC is that maybe they shouldn't be spending $2.7 million for one hour of television. Is there any reason you couldn't make FRIDAY NIGHT LIGHTS for the same $1.1 million NBC spends for an hour of DEAL OR NO DEAL? For that matter, why in blazes does it cost $1.1 million to tape a game show (setting aside the prize money, of course)? I bet it costs 1/10 of that to do THE PRICE IS RIGHT every day.

If I'm a rival network now, I'm salivating at the idea of putting some great shows on at 7:00pm and kicking NBC's rear.

I'm willfully ignorant of how the TV business works, but even though cutting back on original dramatic programming and increasing web-based content may save money, shouldn't they be concerned that will lose even more viewership? Maybe TV channels are going to become even more like movie studios or record labels, with a few flagship, highly promoted shows carrying the weight of everything else. The first thing that came to mind when I saw the "Peacock Slaughter" headline on Drudge the other day was: here come more reality shows. I can't imagine too many people will watch web-only webisodes or cast-written blogs if the shows themselves aren't any good. I watched the webisodes for THE OFFICE, but no other series on TV compels me to go find out more on the web. I guess I'm not sure how their sites will become anything more than an adjunct to the channel.

Also, it seems to me these big media companies are sitting on goldmines in the form of their archives. Given the popularity of tv shows on DVD, what's stopping them from loading their old shows onto Itunes, or their own site, and charging a one-time fee to download it? Surely there's years and years of old Tonight Shows people would be eager to see, especially if you could enter a search like "jimmy stewart dog poem" and find the episode you wanted. Maybe this is a kind of convergence we're headed for eventually, but I'm surprised it's not here already. Where's the future when you need it?

DRM guarantees that it'll never, ever be just a one-time fee.

If people don't sit through mid-program ads anymore, why don't they just bring back COLGATE THEATRE?

"Digital add-ons"? Gimme a break. How dorky and out of touch is that? The Internet is really popular, so the way to get viewers back is a DESPERATE HOUSEWIVES blog? Woah. Next time I plop down on the couch with a bag of Doritos, I really want to be worried about catching all the "webisodes"? Barf. Psst, NBC, IT'S THE SHOWS.