Upon our change of name for this column, a friend wrote, "Even with the potential connotation of your impending homelessness (Under the Bridge), I like the name ...."

Homelessness ... hmmm ... he has a point.  But the homeless do observe a lot of stuff that "regular" folks can't or won't comment on.  With that in mind, I think I'll take this moment to express some sympathy for an extremely wealthy, connected individual whom many consider decidedly unsympathetic ...

Mr. James Murdoch.

Yeah, really.

This is meant as no affront to the many thousands of very talented, principled employees of News Corp. (and they are legion), but whiffs of malfeasance at some upper layers of the empire have been around for a long, long time.  Phone hacking, alleged piracy, the hijacking of "news" for political gain .... All have tainted the deciders-that-be.  But for the heavy hand of blame to fall primarily on the youngest scion who, whatever his sins, has done a bang-up job with most of his portfolio seems a bit ... well ... heavy.

With that off my chest ... onward to the biz.  As many of you will have noticed, our quarterly The BRIDGE, the longest running benchmark to the entire multiplatform universe, came out yesterday.  Along with quarterly subscriber counts, trend reporting and such, we found some interesting pro- and con- data points to offer insight into the whole online v. traditional TV conundrum.  Namely one very interesting 2% split:  "According to Nielsen, primetime households using television bumped up by 2% in 2011; meanwhile, despite its hefty customer rolls, Netflix streaming accounted for only 2% of average total TV minutes."  (A tip of the hat to Bernstein Research's Todd Juenger who brought this to light.)  

In addition, of course, are some interesting numbers on premium channel subscribers.  Take a look at the graphic below (reprinted from The BRIDGE).  As it shows, traditional pay premium channels actually grew subscribers in 4Q11 ... not exactly a death knell for the industry.  •

Appetite for Online Video

While there is deepening multi-generational interest in digital video programming across all screens, a new study suggests that brands should feel an increased sense of urgency to invest particularly online.

New data from Digitas Research shows almost half (46%) of all internet users in the U.S. say that if they're watching video online that mentions a new product or brand, they would at least be 'somewhat likely' to check it out afterwards. Further, the firm says, 49% of those who follow brands on social networks say if that company posts a video online, they are at least 'somewhat likely' to watch.

According to the study, more than three in five (63%) of U.S. adults have browsed online while watching traditional TV, and 27% of those browsing sessions are related to the content they're watching on television. Digitas also said that 58% of respondents say if their favorite TV show posted extra content online that they would check it out.

"Investing in online video is no longer optional," says Digitas' Stephanie Sarofian. "Today's viewer is not just passively sitting and watching... they're sharing, talking, clicking (and) testing." •

Etc.: Olbermann Countersues – Boxee v. Encryption – LightSquared Eyes Chapter 11?

Ratings: (...or lack thereof.) Current TV is making news again this week, first for firing Keith Olbermann (who sued his former employers last night) and now for possibly being dropped from Time Warner Cable systems. Reuters is reporting the MSO may disconnect Current if ratings don't improve.

Rules & Regs: Bloomberg has an update on the Boxee v. basic tier encryption story. --- The FCC said the Q411 inflation factor that cable operators can adjust their non-external cost portion of rate increases is 0.89%.

Research: Interesting bit from TVGuide this week comes news that as many as 76% of viewers say their main motivation for engaging with social media is to prevent their favorite shows from being canceled... up 66% y/y. Read more. --- Canadian research firm Convergence Consulting's "Battle for the North American Couch Potato" report made its way around pay-TV circles this week saying cord-cutting is alive and well. A well-respected analyst friend of The BRIDGE's shot us a little note making sure to remind readers that Convergence included OTAs in the study... a metric many researchers don't use when trying to measure the cutting of cable cords.

Ethics: SkyNews authorized the hacking of emails from suspected criminals... and the company says police were fully aware. But, Sky says, it was done in the "public interest."  We report, you decide.

TVE: NYT is reporting that Comcast and HBO are working together after all to make HBO Go available to the cable company's subs on the Xbox.

Advertising: Comcast Media Center said the NHL Network will begin using its cloud-based ad distribution network for spot delivery to affiliates.

Deals: Netflix signed a multi-year distribution deal with Hasbro Studios for streaming access to the studio's mostly kid-friendly content. --- SiriusXM signed a multi-year deal with MLB Advanced Media to stream all Major League Baseball games on the SiriusXM app and online.

Service: Gas station TV network Outcast said it will start airing film ratings from Flixster across its entire footprint.

Over, Up, & Under: SkyNews Arabia will launch on Sunday, May 6. --- Sky said it will invest as much as $950M in original programming through 2014. The company will produce and show family-oriented films on SkyMovies and original documentaries on SkyAtlantic. --- Eurosport says it will air as much as 100 hours of the 2012 Olympics in 3D on Sky3D.

Events: NCTA says there will be a bunch of cool cable innovations at the "Imagine Park" interactive exhibit at The Cable Show 2012. Check it out.

People: NAMIC named Time Warner Cable EVP & CFO Irene Esteves as honorary chair of the group's annual awards breakfast on Wed. May, 23. --- TiVUS named 25-year LodgeNet vet Steve Truckenmiller as EVP of channel partners.

Uh Oh: Earlier this week, LightSquared backer Phillip Falcone said that one option he was "seriously considering" recommending to the company's board was that of voluntary Chapter 11 bankruptcy. "While no decision has yet been made, the rationale behind a voluntary filing would be to give us the necessary time to continue with our vision, build the network and protect the company from creditors who are more interested in a quick flip," he said.

--- Markets are closed today. The Evening BRIDGE will return Monday; have a great weekend.•