Perhaps time to dust off the Internet 1.0 glossary and review "disintermediation"
"But Hastings also reiterates his argument that there’s room for lots of streaming video services, just like there are lots of cable channels today. Translation: Don’t worry, Jeff Bewkes: Just because we’re coming for you doesn’t mean we’ll crush you. Also, please keep selling us Time Warner’s content! Thanks!"Netflix CEO Reed Hastings Predicts the Future of Streaming Video - Peter Kafka - Media - AllThingsD