There is still quite a digital divide (lack of affordable, highspeed internet access in the US in many areas).
By the time this is resolved, storage media will become so inexpensive and dense, it will be possible to store years of tv shows and movies locally and very cheaply.
Personally, I have grown tired already of having certain tv shows or movies available one week and gone the next. I also dislike having to watch Hulu commercials if I decide to watch the same episode multiple times.
It doesn't make sense to spend billions of dollars on infrastructure when cheap, ultra high capacity media can do the job.