Alternative business models for the media industry?

With the rise of p2p networking, pirate bay, bit torrent, the media industry fears a loss of profits. The old business model of making films, music and ideas scarce is coming to a CLOSE.

So what next?

I don't pretend to be an entrapeneur or any good at "business", but i have a few ideas. Although some stand alone, or are incompatable with eachother, some go together. (such as sponsorship/advertising with all of them)

I like the idea of using public viewing arenas, open areas with a viewing screen to attract people. Such an event would be ample to gain recognition for creativity, sell merchanidise, advertise and perhaps have pay per...something. The reason this would be useful, hopefully, is the quality of service. For instance where a good film exists, it is usually made better by good audio/visual equipment: best found at the venue.

An advertising model has already been discussed. It may also include (rather than just advertising) the use of codes for consumers to get discount, which also gains the venue (where the consumer recieved the code) income from the advertiser.

Generating an emphsis on public sponsorship of the events and advertisers is also important.

I think an awesome idea, you might disagree, is actors doing re dramatizations of films, either in a lower budget or through a play. Essentially inverting the original format for something different.

For muscicians i believe the best model, and i think it's used. Is to link the conciouness of social networking with live gigs. In short, play where you are wanted. The same could work for film. This has a greater chance of being a good investment due to the receptivness and personal input of the consumer/audience, you are more likley to have people buy merchandise and sponsor.

With the gaming industry, which is growing ridiculously fast, open sourcing their codes is the best way to get the most out of games. Indeed, i actually believe that open sourcing gaming will make the medium far more powerful and innovative. (hah, and cheaper)

When it comes down to it, media is social so we should tune into that.