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Here's a good explanation:

Hat-tip to Chris Anderson at The Long Tail

So, here's another way to think about this stuff.

The old network(s):

1. TV networks = video
2. Newspaper networks = print
3. Radio networks = audio
4. Cable networks = video
5. Satellite networks = video/audio

The new network:

Internet = video + print + audio

In effect, the Internet swallows the content types of the old network(s). It can offer video to the vid heads, audio to the audiophiles and print to the print freaks. And, it can do so at virtually no cost to any of the parties involved - i.e., producers, distributors or consumers.

That's the new new network!