Online video sites turned TV Networks?

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Watching the media consumption habits of my 12 y/o and 14 y/o nephews in Paris last week, I started to realize that TV is simply no longer an interest of theirs – and I am talking about the *set* or the *screen*. They were avidly watching *TV Series* – but on their Macs. Using Vuze, and downloading bit-torrents from mutliple sources. They literally did not turn on their 42″ TV sets *once*. Not once. So then you go and see that YouTube has recently webcast the Lollapalooza music festival live, sponsored by big names. What does this tell us about the future of Television? Or the future of the *interaction* between Television and the Internet? It is of course – as always – about eyeballs. And it seems to be apparent that the eyeballs are shifting «en masse» to all kinds of screens, other than the ones found on TV sets.