The broadcast channels never owned the public airwaves. At the time, broadcast was the most practical way of delivering content, and they engaged in what was a reasonable bargain for everyone: the public gets high-quality content for free, and the broadcasters get to use the public spectrum.
Today, I don't think the arrangement makes sense for anyone. Broadcast TV isn't the best use of all that spectrum, and the vast majority of people get their television content through cable or the internet. The bulk of the value of the networks today is in their content. They've always had the content people love, because they do a really good job making such content. They have expertise. It's very difficult to create content people want to watch, because most people will quickly dismiss shows and movies that don't have high production values. That's where the value of these companies lies in the modern era. And going forward, they'll have to double-down on this core function.
But Aereo isn't moving "innovation" forward in any way. They're just trying to make a quick buck using other peoples' content. In contrast, Amazon and Netflix (as well as HBO and some other companies) are moving the whole situation forward by trying to compete with the networks in the area of content production.
Today, I don't think the arrangement makes sense for anyone. Broadcast TV isn't the best use of all that spectrum, and the vast majority of people get their television content through cable or the internet. The bulk of the value of the networks today is in their content. They've always had the content people love, because they do a really good job making such content. They have expertise. It's very difficult to create content people want to watch, because most people will quickly dismiss shows and movies that don't have high production values. That's where the value of these companies lies in the modern era. And going forward, they'll have to double-down on this core function.
But Aereo isn't moving "innovation" forward in any way. They're just trying to make a quick buck using other peoples' content. In contrast, Amazon and Netflix (as well as HBO and some other companies) are moving the whole situation forward by trying to compete with the networks in the area of content production.