the undocumented informal portable video economy.
I ran into two high school kids watching 50 Cent and old Jay-Z music videos on a PSP last night. I told them I could never find any good video for my PSP and asked them where they got theirs. "On a bulletin board," they said. They get a lot of video that way. Music videos, TV shows, viral video... not a lot of movies, though. Why's that? Because DVDs are better on a big screen.
How do the music videos end up on PSPs? Other people take them off of television, transcode them to PSP-compatible (MP4) format, zip them up and post them to file hosting sites, then link to it on the bulletin boards they hang out on. Anyone who doesn't know how to get the video onto their PSP can search the board or read the FAQ. Nice.