This paper essentially deals with innovation related to Internet Television, not Internet Protocol Television (IPTV), which is so widely seen as a major new application for NBN Co. It constructs four business models of Internet television related to the recent innovation offered by four American based corporations, each of whom is relatively new to television. It offers an analysis of Netflix as the aggregation model, Apple TV as continuing its iPhone walled garden business model but this time for television, Google TV where convergence for television would be free, and also of movies becoming available on Facebook, the progressively more ubiquitous social media site. None of these players are original television content creators. All are highly dependent for content on the established commercial television networks in the USA, whose management face complex dilemmas as to whether it embraces the opportunity to make more programming available to new outlets, but at no risk to their programming rights, or to their lucrative advertising base. The development of Internet television, and how it comes to compete or co-exist with IPTV, may be a broadband game changer, not only in the USA but also eventually for Australia.