Online Video Advertising Isn't Attractive Enough to Cause Disruption, Yet

U.S. programming networks earn something on the order of $30 billion a year in licensing fees from U.S. video distributors, and something on the order of $25 billion in advertising based on those audiences. 

Today, all online video advertising, in aggregate, probably represents something on the order of $2 billion annually. 

So no rational network executive is going to jeopardize $55 billion in annual revenue to try and chase a single-digit billions business. That doesn't mean change will not happen. It just won't happen soon.