Good question.
Content will be "free". The dam is breaking, and there's nothing the creators can do about it. However, if they change their thinking and grasp the new paradigm, there's alot of money to be made. Read the following and you'll see the future of media.
Even in that example, the artist or other content producer has the right to make the first sale. If someone can steal the music or TV show or whatever and make it available for free, then the creator can not make any money on his or her product. It costs a lot to create this stuff and the studios will go under if they can not generate revenues distributing their product.
Intellectual property rights are just as important as physical property rights and much harder to protect.