Yes, with premium video, a subscription based model is a necessity. Advertising alone is not an option. The mechanics of video subscriptions is an interesting

Yes, with premium video, a subscription based model is a necessity. Advertising alone is not an option. The mechanics of video subscriptions is an interesting discussion for another time, however it's not certain whether a completely a'la carte offering would be sustainable for HBO -- it definitely wouldn't be for most smaller channels. As much as people might dislike it sometimes, there are economies of scale to bundling.