In this paper, the authors adapt a value chain analysis framework used in the music industry and apply it to the television industry, in order to probe the television value creation and distribution mechanisms and examine how they were affected by technology. More specifically, they examine how viewers can effectively become producers by repositioning themselves in the value chain and the implications of such a shift. Their discussion takes place in the context of a case study, that of Current TV, in order to illustrate in practice the opportunities and implications for the content producers, the broadcasters, and the viewers themselves.