Courtroom battles over online TV service Aereo may end up recasting our entire copyright system -- with far-reaching and very pleasant consequences for digital media players such as Netflix (NFLX 1.74%) and Pandora Media (P).

Aereo may have found a way to transmit public airwave broadcasts online without paying retransmission fees. If this model stands up in high-level courts, we may have a media revolution on our hands. In this video, Fool contributor Anders Bylund walks you through the basics of Aereo's mutiny against oppressive royalties.