Personally, I see most of the best original content coming out of the "indies" in the next few years. Most of these channels won't be entirely independent (red bull channel, TED channel) but completely bypass traditional cable and broadcast.
It will be like music, sure there are huge hits like Cold Play and Lady Gaga, but most of the quality and innovation come from the 1000's of smaller content creators.
Economically, it leaves more companies fighting for a piece of the Advertising pie, with less domination at the top.
Just my opinion.