So does advertising-supported media fit the "club goods" scheme, or the "public goods" scheme? Because I'm still seeing a place for advertising-supported media. And yes, I know people can find ways to strip out ads, but if they aren't too obnoxious (by being relevant and by appearing in natural breaks in the media), I think the vast majority won't bother. But I don't know how much advertising revenue there is out there, especially if the only stuff being advertised is also supported by ads... seems like a giant pyramid scheme to me.
Scott McCloud has a very interesting article on this subject, viewed through the eyes of graphic novel writers/artists, here:
http://www.scottmccloud.com/comics/i...st-5-full.html
What's especially cool is that the content is delivered as a web comic. It's entertaining and informative, and I encourage everyone to take a look.

He discusses the "middlemen" problem, the distinction between physical and digital media, the issues of advertising, and the possibilities offered by micropayments.
Highly recommended.
Part 2 has a particularly cogent exploration of "piracy."
http://www.scottmccloud.com/comics/i...st-6-full.html