Move over cable TV, because the Internet is taking a step towards becoming a true cable replacement. TV streaming site Hulu plans to offer a live stream of a Dave Matthews Band concert on June 1—the site's first-ever live music concert. While the site has previously streamed certain live events, such as the 2008 presidential debates, the Dave Matthews Band concert marks the beginning of live-streamed entertainment, chipping away at the appeal of paying a monthly cable TV bill.

The live concert will begin at 9:00 pm ET on June 1 at Hulu. Because of the partnership, Hulu will begin offering various music videos leading up to the show, and after the concert is over, the site will continue offering on-demand streaming access. "Dave Matthews Band is honored to partner with Hulu in this groundbreaking venture," Dave Matthews Band manager Coran Capshaw said in a statement.

Whether or not you're a Dave Matthews Band fan, the move is significant in that it's the first major streaming "event" for a mainstream entertainment act. Sure, President Obama's face has graced our computers live many times over the last year or so, but as PaidContent points out, those speeches and debates were offered as a public service. Certainly cable providers don't need to panic after just one streaming concert, but if the trend continues, the Internet will no longer be relegated to playing the role of the red-headed stepchild of TV content.

For the time being, though, the traditional boob tube still dominates when it comes to the public's TV viewing habits. Ratings firm Nielsen recently noted that the number of Web and mobile video viewers is up, but nearly 99 percent of all video is still watched on a TV screen. Americans are watching more TV than ever, too—both online and off—averaging about 153.5 hours in front of the idiot box and three hours via the Internet every month. Clearly, the television is still king—for now.

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