You’re not that far off. Here’s how it really goes:
TV Producer: Hey, we made this great content! Let’s put it online!
TV Exec: Only after it airs on TV. Don’t want to lose that TV ad revenue.
TV Producer: Okay. But right after, we’ll put it online!
TV Exec: Only geoblocked, of course, Don’t want to lose those international rebroadcast deals—after all, that’s where we make most of our revenue—from artificially limiting the content’s availability.
TV Producer: Oh.