The business ramifications are far from clear. Netflix chief Reed Hastings was forced to apologize in 2011 after the company angered subscribers with a bungled announcement that it was separating its streaming and DVD businesses. And last week, Hulu's owners abruptly called off plans to sell the site, deciding to reinvest in programming instead.
Of course, broadcasting is not dead.
For all the attention lavished on Netflix, the traditional networks weren't exactly ignored by Emmy voters.
CBS and NBC each drew 53 nominations; ABC got 45. While broadcast was shut out again in the best drama category, comedy was another story, with last year's winner, ABC's "Modern Family," getting another nod, along with CBS' smash "The Big Bang Theory" and the final season of NBC's "30 Rock."
But even in this category, a barrier was shattered: "Louie," FX's scabrous series starring Louis CK, became the first basic-cable series to show up among the best-comedy contenders.
The conclusion is inescapable: The old world is cracking apart. And at least one familiar face thinks that's a good thing.
"We will start to see, hopefully, more organizations and companies stepping up and saying, 'We want to order more programs and get into the content game,'" said Kevin Spacey, who plays the vengeful Congressman Frank Underwood in "House of Cards."
"For the industry, it's great because it creates jobs for more writers and more directors and more actors."
Times staff writers Dawn C. Chmielewski and Deborah Vankin contributed to this report.