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The only difference is that trad media pretend to be serious guardians of morality and culture, while modern media are obviously in it for the money or the lulz.
It's interesting how similar the models are.
If you remove ad revenue, the entire system breaks down. Most people don't want to pay for media content, so you're left with hobby enterprises and personal brand building where online celebs advertise their own content instead of someone else's.
It's hard to see how this would work, unless perhaps you had a new system where everyone was given a basic wage for free together with some redeemable reward points, and consumers could gift the projects and individuals whose work they liked with some of those points.
The points would be redeemable for basic necessities like studio time, media equipment leases, and so on, as well as optional extras like nice food and clothes.
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