One word: iPad.
I’m sitting here on my couch watching the Masters live — not on my television, but on my iPad. And I can switch to other video feeds depending on which players/holes I want to watch. 6 different feeds are live right now.
I can watch highlights right after they happen. I can check scores. I can read bios. I can see photos. I can get an overview of the course. I can read about the history of the Masters. Etc. Etc. Etc.
The only thing missing is the ability to push the content via AirPlay to the Apple TV.
For all the talk about the future of television, it’s easy to overlook the obvious. This is the future of television.
Update: You actually can AirPlay the content from the app, as a number of you have pointed out. The functionality isn’t built into the app, but the native iOS 5 functionality (in the tray) isn’t blocked (as it is in some video apps). Excellent.