Do you believe subscription or advertisement is necessary to sustain the platform? What about membership without a fee, based on a choice of plan or individual purchases?
the business model is probably a big topic. You would need some surveys to find out what the general public think ( maybe that is why you are asking on HN )
From what i know of tv show pricing, the purchasing of prime time shows is 2-5million per episode for the tv channels to air it. so they have to play it many many times and get advertising and maybe subscription against it to pull a profit.
I guess Itunes is a "pay per episode like model", but i would be more interested in not thinking about purchasing each show.