Aereo's Bid for Comeback Hinges on Cable License

After the Supreme Court ruled that Aereo is "substantially similar" to a cable system and therefore Aereo needs broadcasters' permission to air their content, the company has argued that it should be able to qualify for a "compulsory license" -- meaning it could pay limited royalties for the rights to broadcast content.

If Aereo is successful and does manage to qualify for a compulsory copyright license, it would have a profound impact on the way television is distributed online, potentially paving the way for other so-called over-the-top Internet television services. To be sure, Aereo's business model would be altered by having to pay copyright royalties, however small. With that added expense, the company likely would have a difficult time keeping its service at its current cost of $8 a month. Still, just surviving after the Supreme Court's decision would be a major coup and would give hope to Web entrepreneurs looking to get their own online video ventures off the ground. Many lawyers say it is a long shot.