Alvin Toffler in his book “The Third wave”, talks about the rise of prosumer, the economic agent who is responsible for producing as well as consuming, as opposed to the consumer of the Industrial age. Current TV does seem to be the signs of that phenomenon in media, where the content is aggregated from a variety of people and distributed to large masses of people.
Mass media content suffers from a long list of drawbacks. Primarily , by nature it cannot target long tail. Current TV is a step towards appealing to the Long tail.
But why use TV, when there is net ?
FAQ on site says:
“There is definitely some cool stuff going on with Internet video, but probably not enough to power a media company like Current yet, and certainly not enough to deliver the quantity and quality of programming that we will offer. We’re going to do everything we can to sync up with those technologies, though, even as we continue with our cable and satellite TV network.”

Will be interesting to see how this firm is received in the market ? Will people be comfortable with podcasting and videocasting / will they also give a chance to Current TV ? Whatever be the case, there are signs of the  rise of prosumer .
Link: Current TV.