From “The End of TV (As You Know It)”:

The video-on-demand (VOD) phenomenon isn’t confined to cable-system menus and iTunes downloads. The entire Internet is, in a sense, media on demand, says Tobaccowala. “That has changed how consumers feel toward all media, training them to feel puzzled and even cheated when they can’t get what they want when they want it.”

It gets even better because they actually break down how much money people can make off of iTunes versus network TV ad rates:

That’s why the networks are dipping their most profitable toes into unknown waters, making some of their top-rated shows available in new ways. A deal ABC struck last month to have episodes of its hit Desperate Housewives available for download on Apple Computer Inc. (AAPL ) video iPods for $1.99 shows how the networks are cautiously experimenting. The series about the wacky women of Wisteria Lane generates $11.3 million in ad revenue per episode, according to Forrester Research Inc. (FORR ). That translates to an estimated 45 cents per viewer per episode. By contrast, ABC is expected to earn $1.20 per download of an episode after Apple has taken its cut. Even if 20% of the show’s audience shifts its viewing from traditional TV to iPod and ad revenue falls accordingly, ABC would still net $1.8 million more per episode than if Housewives weren’t available on demand.

If this is true, it is quite impressive.