Blip.tv's CEO, Mike Hudack, chatted with us this afternoon about how online video and television are evolving and informing one another. Revenue models, show length and format, distribution, and consumption are all called into question as the web targets increasingly narrow and engaged niche audiences.

As startups such as Blip.tv continue to grow and partner with old-guard media companies for television distribution, what will happen to the major networks, whose current model creates a scarcity of opportunity for revenue while requiring a "least objectionable programming" approach to content? Will network TV survive? Watch and find out what Hudack thinks.

Web 2.0 Fridays being what they are, the Blip.tv team geared up for beer and Rock Band about 5 minutes after the interview finished. More announcements about "super-secret" developments now in the works (Hudack's terminology) are to be released in the weeks to come.