He argues for a model in which, say, television, would become a digital model with episodes freely available and certain subscriber-based and advertising-based values to them as part of an ecosystem.
His example with television: "The “show” could be free on a Facebook page, with standard ad units providing the first level of revenue. The show might contain social elements (pulled from the Facebook page) built into the content, which would connect the content, the user, and their friends more deeply. Additional “fees,” in the form of demographically tailored offers, micropayments, or subscriptions could come from users who want to see a show first, buy products from the show, create avatars, host a viewing party, and on and on."
It's as much of a new mindset as a new physical approach, but it requires considerable rethinking.