What's the breakdown of, say, primetime network TV? DVRs account for ~20% of that, but barely register when extrapolated to all available television. I'd bet that online viewing follows the same pattern, at least to more than 1%.

Online will gain more ground once it's easy to flip a switch and have it streamed to your TV. It can be done now but it's not widely known and/or cared about. Honestly, the older you get the harder it is to sit in a chair 8+ hours a day. Hands hurt, back hurts... the 18-24 demo will find that out soon enough.

It's also solitary, not easy to sit with others and watch a show.

Then there's the issue with the online content just not being up to the high-end production values of a real show. I mean, sure baby laughing for half a minute is great... but it's fleeting and unless internet companies start to produce content themselves, they will always behind TV because they are just taking anothers work and putting it in a different medium.

Policy Options-Nanos Poll: Television Still Most Trusted Source of News

"Television is still the number one source of news for Canadians, by a wide margin, over newspapers, radio and the Internet. TV is also, again by a slam-dunk margin, the most trusted source of news. These are the main findings
of a Nanos Research poll for Policy Options, published in conjunction with the magazine’s June issue on the crisis in the media.

The research suggests that traditional media still have a significant credibility advantage over the Internet as a conduit for news information, but that newspaper content providers have been hit harder than TV news providers."

Guess it all depends on your definition of "credibility"!

Poll results: http://www.irpp.org/po/archive/jun09/nanos.pdf