It's already happened in America. "Cord cutting" has become a popular phrase as more and more people leave cable tv. American sports offer their product direct to consumers via the Internet all over the world. The likes of ESPN get a few games a week.
It's younger consumers doing the cord cutting too. While it's the older ones who cling to the cable tv model.
Seems like a pretty massive example to me. It's strange to me that EPL haven't gone the same way, they have the international reach to be able to do so as a supplement to also selling certain games to local TV networks.