Here in Australia at least the Cable (nothing like the US Model) and Free to air networks raced to sign up multi-year exclusivity deals before Netflix et al arrived. This is one of the reasons that Netflix AU has bugger all content compared to other markets, hence the reason we VPN or pirate.
EG here to legally watch Game of Thrones I need a cable subscription which is minimum $50 per month on a 1 year contract + I have to pay another $20 or so to get the 'drama' pack which has HBO on it. $70 per month for one show that airs 10 episodes? No thanks.
Netflix will have to pay out big money to get the broadcast rights holders to hand back the licence. It's all about revenue.
I just wonder how they'll block VPNs when I thought the whole idea of them was that you couldn't tell where the end user was? Or are they looking at being able to trace the whole route? Interesting.