This is pretty amazing if you think about a few things:
* The video library on iTunes has only 2,000 titles, compared to 2 million songs
* There are only a few big "hits" in the video section: Lost, Desperate Housewives
* A good portion of the traffic is probably word of mouth, as Apple's media campaign has barely begun
I ran into Clint Sharp at the airport last week and he had good things to say about the the Video iPod (and that is coming from a guy that knows the vlogging space very well).
If I own a network affiliate (ABC, NBC, etc), this development has me worried. If I don't control the distribution of exclusive content anymore, what is my value add? How does this affect the value of my FCC license?
The impact of time-shifted media isn't limited to audio only - the shift in video will be very interesting to watch over the next year or so.