Yeah, incidentally there was a bit on BBC's Click yesterday where they were talking about Bittorrent and how it's declining, in the US at least, mainly due to Netflix. Apparently 30% of nighttime internet traffic in the US is Netflix.
The other thing I don't get is, why do the film studios still care so much about cinemas? These days most people can't be bothered since they have HD TVs and a lot of people have 5.1 home cinemas. Cinemas are usually dirty and have rip-off snacks, so I would rather watch films at home these days. I only go to IMAX if I really want to watch a movie on a big screen.
I thought studios would be scrambling to get a Steam style setup going so they could bypass the cinemas and reach a far larger audience of people who wouldn't usually go to the cinema.
Maybe they make more money on a stacked model of first cinema, then DVD/Bluray then finally TV networks, but I think they would get loads more from people who would usually pirate it since they don't want to wait for the DVD/Bluray.