• by Wendy Davis , Staff Writer @wendyndavis, July 5, 2005

Earlier this year, Yahoo!'s media group head, Lloyd Braun, lamented that the Internet still hadn't had its defining "I Love Lucy" moment, the turning point that would transform the Web into a mass entertainment medium.

That moment might have arrived Saturday, with America Online's live streams of Live 8 concerts in six cities worldwide.

The streams, available for free and in real-time while the performers were on stage, set records for Internet viewing. America Online reported over the weekend that 5 million users visited the site at some point during the live feeds, while 175,000 users streamed simultaneously at the height of the day's traffic.

What's more, the television coverage--neither live nor close to complete-- paled in comparison. MTV Networks' coverage was widely criticized for everything from its many ads to overly talky VJs to basing its coverage in Philadelphia--as opposed to London, where most of the headlining musicians performed, and Microsoft's Bill Gates made an appearance. ABC's two-hour broadcast that night was seen by an estimated 2.9 million viewers, according to The Hollywood Reporter.

Commentators immediately noted the contrast between the live coverage on the Web and TV. "Television seemed shockingly old-fashioned during Saturday's worldwide concert for poverty relief," wrote Associated Press television writer David Bauder. "AOL's coverage was so superior, it may one day serve as a historical marker in drawing people to computers instead of TV screens for big events."

Knight Ridder's Beth Gillin chimed in with: "If Live Aid helped launch MTV as a media powerhouse two decades ago, Live 8 not only dethroned the music channel Saturday, but it also made it seem quaintly old-fashioned. The Internet left cable in the dust. To put it bluntly, MTV sank and AOL soared."

Still, to put Saturday's numbers in perspective, consider that in 1985, an estimated 95 percent of TV households worldwide tuned in to the first Live Aid concerts. While AOL's weekend numbers are impressive, they don't compare to the reach TV can deliver.

The streams also were nowhere near the quality of television--at least on the Minute's computer. Regardless, there's a lot to be said for being able to stream live and without interruption.

Time will tell whether Live 8 will define the Web's place in the media world. But for now, it's as close to a pivotal moment the online world has seen.