In the US, experiments with putting TV programs online usually work in one direction: broadcast first, then online distribution. A UK broadband subscription service, UK TV Slam, has flipped that around.
According to this Media Life article, on April 13 UK TV Slam "started offering live Euroleague basketball games... Once the games have aired on broadband, UKTV shows highlights on one of its TV channels."
Here's how that article explained the business model: "UKTV's G2 channel will show highlights of the Euroleague basketball games each Sunday night, several days after the full games have aired live on broadband, with the TV exposure serving as a marketing device to drive subscriptions for the broadband service. The plan runs about $7 a month, or roughly $57 per year. Ultimately the idea is to help build up the broadband audience of basketball, which is a niche sport in Europe, unlike in the U.S. [Said UKTV sports development manager Martin Henlan] 'It is difficult for niche sports to get broadcast windows. There has never been room on cable for sports like this.'"
I wonder if this model could apply to niche sports or other live events in the U.S., such as minor league baseball, beauty pageants, rodeos, dog shows, or even some music or theater? When you're delivering content online, you don't necessarily have to attract a huge audience (broadcast-scale) in order to build a good business.
This will be an interesting experiment to watch.
(Thanks to BlogCritics for the tip.)
Those may not be quite the same model you describe...