Television content used to be bad because it was supported almost entirely by advertising. You didn’t have to prove to an advertiser that you had good content. It was just content reaching a particular audience, and since there was little competition, everybody got to reach that audience. The content itself was an afterthought. The audience wasn’t making a conscious decision to accept or reject that content.
That’s pretty much the Web model now. (…)
So now it’s all advertising supported, and it is all dross. The quality of the content has no precise relationship to what advertisers are paying for when they buy an ad. Worse, the technological marvel of the Web allowed websites to boast that they could measure that audience, and how it responded to ads. And when it turned out that very few people were clicking on those ads, that only drove the cost of online ads down further.