I've been distributing media online since 1995. The most interesting aspects to me involve the differences between broad distribution and narrowcasting.

Broad distribution (probably now called the "Radiohead" model) is distributing your media as far and as widely as possible, and collecting a small amount from a LOT of viewers.

Narrowcasting is collecting a larger amount from a smaller market. Here is a good example of the narrowcast model in action: http://caachi.com/

I think which model you choose is entirely dependent on your particular media, and your awareness of (and intelligence about) the media landscape. To date, most people have made the wrong decisions, and the creativity and versatility of the online media landscape has suffered.