AppleInsider suggests that there's a contingency plan in place, in which Apple asks* the networks to change the price of an individual TV episode from $1.99 to $0.99, which jibes with a story on Financial Times this morning.
I'd welcome a subscription model for TV and movies. For $30 per month, I could stream any TV show or movie in Apple's library to any approved device: Apple TV, iPhone, iPod, computer or tablet. This would prevent the last-minute shuffle of files as I prep my machines for a hotel stay and more importantly, eliminate the "You missed your show" tax.
If I miss an episode of "The Office," why should I pay two bucks just to catch up when I can see it on Hulu for free? Sure, I can get a HD (720p) version from iTunes, but I'm willing to go with 480p from Hulu when it's free. I pay $40/mo to the cable company now and the vast majority of shows/networks I never watch. Why pay for them?
When Apple first introduced television to the iTunes Store, only a handful of networks were on board. Now there's a laundry list of participants. I imagine that we'll see a similar growth pattern with the tablet.
*Define "asks" as you will.