The future is fragmentation, not necessarily "on demand"
The broadcasters' currency is ratings, narrowcast subscription.
For broadcast, there is a constant battle going on for the viewing audience's attention, there is only a certain level of repeat that the schedule can tolerate before it is reflected in viewing figures. Any program, be it news, game, current affairs, drama is subject to intense financial scrutiny, to ensure best value. There was a time years ago, when there was conspicuous waste in the system, that has largely disappeared, probably almost entirely1. Now, the only high production value shows you see are those for which there is a ready re-sale market.
Scheduling TV economically is one of the hardest things any channel has to do.
And yes, I have run a TV channel (finance).
1And we were amongst those responsible for bringing reality (no NOT THAT REALITY) to UK TV