I think the model can work for well produced, compelling Internet broadcasts under the right circumstances…Glenn Beck's done it with http://www.theblaze.com/tv/ , but most traditional broadcasters who've attempted the the pay per play model have failed.

I know Tom Leykis is attempting it, but I'm not sure how well he's doing. His audience, while loyal, seem a little apathetic, unlike Beck's, so I'm assuming that they are less inclined to spend money to listen….I could be wrong.