This brings into focus one of the App Store's main advantages-- a micropayment platform that users have actually adopted in large numbers.
The only reason that media companies need fear cannibalizing app sales is that people have become accustomed to paying for Apps (even apps that are 99% content) but not paying for web sites.
Imagine for a second if Apple rolled out the ability to pay for anything on the web (that made it past a review process-- ha!) with your iTunes Store account?
Either Apple needs to extend their payment system out into the rest of the web, or the media companies need to band together hulu-like and establish their own payment system (or some micropayment startup needs to get some serious traction).
The only reason that media companies need fear cannibalizing app sales is that people have become accustomed to paying for Apps (even apps that are 99% content) but not paying for web sites.
Imagine for a second if Apple rolled out the ability to pay for anything on the web (that made it past a review process-- ha!) with your iTunes Store account?
Either Apple needs to extend their payment system out into the rest of the web, or the media companies need to band together hulu-like and establish their own payment system (or some micropayment startup needs to get some serious traction).
See also my previous comment on this topic:
http://news.ycombinator.com/item?id=1304498