You know, I'm watching a show about a wedding cake contest in Oklahoma right now. If Food network can make money on that, there's got to be a way to do it online.

I think we're just getting started in our ways of monetizing audiences online. Just look at the reality TV shows that make money on the most obscure topics these days.

I think that the advertisers pay more for Food network airtime because Food network has repeat patrons. It's a little different for a one-off show than for an entire network.

The interesting part is that broadcast television has managed to shoot themselves in the foot by lowering the bar of production value (via reality shows) to the level commonly found among online video producers (as opposed to well written, slickly produced and expensive dramas).

By setting their audience's expectations as such, the broadcasters have made online content more appealing and therefore have decreased their ability to compete with online offerings.