It will be interesting to watch the growth curve of Revision3 Corporation, from the founders of Digg. They are trying to create a true internet TV station, featuring original content, podcasts, video blogs, etc. Of course, it's getting a bunch of buzz, both on Digg and in the rest of the world. For context, the "Diggnation" show is downloaded about 250k times per episode.
On the other hand, see what Craig has to say about the relative success of the Disney downloads on iTunes. Wow, huge success, right? Well, hmm.
What's the lesson here in both cases? The media tends to over inflate the "success" of new ventures and undercount the impact of established business models. If "Diggnation" were on a national cable or broadcast feed, would 250k viewers be seen as success or the road to to cancellation? You decide....