I worked for a streaming media startup that partnered with old-line media parents. Parents killing their new-media spawn is by now well-established practice, and nobody should be surprised about the struggles of Hulu.

The media giants depend on their existing distribution partners - cable companies, DVD sales and theatrical. They aren't going to put these channels at risk. Streaming media won't be first-class until a new streaming-centric content power emerges, or until the strength of cable is broken.

Eventually the transition will happen. But when. In our lifetime? Not sure.