In addition to everything else that has been stated in this thread already, I 
also believe we can think of consumer media technology as following two 
diverging strands, in particular from the 80s onwards. One is the high fidelity 
approach. High quality stereo reproduction systems, quadraphonic, 5.1 and 
ambisonics are all positioned somewhere along this trajectory.

The other is instead emphasizing mobility and an individualized media 
experience. The cassette, walkman, ghettoblaster, mp3 files, iPod, laptop, 
iPhone and streamed music are all parts of this tendency. The philosophy is 
that once a certain degree of audio quality has been reached, mobility is more 
important than further improvement of quality/fidelity.

With the iPod with a screen, iPhone, iPad and video on demand we can see the 
same tendency starting to unfold for moving image as well. My guess is that 
iTunes in the coming years will be more successful at distributing video 
content to the home market than BluRay disks, in spite of the latter having 
better quality by far. Cloud-based video content is more accessible than the 
physical BluRay disks as you have to head over to a shop or video rental place 
to fetch, and the quality of iTunes videos is or eventually will get "good 
enough". Similarly I believe that the relative amount of video watched on iPads 
and other kinds of portable tablets will increase in the future as compared to 
HD TV. The Apple TV is already suggesting that in the future TV to a larger 
degree will be a supporting device for tablets, rather than remain the main 
device for controlling and watching TV and video content.

Cheers,
Trond
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