The next format is already in place---wireless streaming with on demand content.
I recently bought a Panasonic wireless Blu-Ray 3-D DVD player. I then signed up for Netflix wireless streaming ($7.99/month). It works the same as the regular Netflix without having to wait for the DVD to come in the mail. Netflix is a few months behind as far as having new releases available for streaming and the picture quality is not quite Blu-Ray but very close.
There are also online music streaming services which I could access through my DVD player but I am not a huge music person and am quite content with my local FM stations.