They do overlap less and less, and the big package model starts to seem less and less tenable.
That being said, it's still not fungible. I want to watch what my friends are watching - it's not at all the case that "any content will do". Maybe my group of friends watches Game of Thrones, maybe they only watch How I Met Your Mother, it doesn't matter.
Though one interesting thing that happened was the Netflix release of Breaking Bad saw a significant group of my friends suddenly watching it. If none of my friends have cable and everybody waits for the Netflix release, I will too.
That being said, it's still not fungible. I want to watch what my friends are watching - it's not at all the case that "any content will do". Maybe my group of friends watches Game of Thrones, maybe they only watch How I Met Your Mother, it doesn't matter.
Though one interesting thing that happened was the Netflix release of Breaking Bad saw a significant group of my friends suddenly watching it. If none of my friends have cable and everybody waits for the Netflix release, I will too.