[sielskr]

"big budget entertainment will increasingly have to compete with more and more free and low-cost entertainment options on the internet"

By "free and low-cost entertainment options" do you mean pirated content? I do not see non-pirated content competing effectively with big-budget movies and television the way that non-pirated textual content (blogs, sites like HN) competes effectively with newspapers and magazines.

[dasil003]

I wasn't specifically talking about pirated content, although piracy will continue to hurt them as well. As for non-pirated content, I agree, it doesn't compete effectively, but attention is a finite resource, and it's being stretched very thin. It's a far cry from the days when people had to go to the movies just to get in an air-conditioned building during the summer.