Kevin Allocca tracks how videos "go viral" for Google. Here in his TED talk, he talks about the components that come together to make a new kind of media that may define the entertainment of the future. He claims it is all about Tastemakers, creative communities and unexpectedness. I really hope we can do better than Nyan Cat in the long run, but still it is interesting to see how technology affects popular culture - and vice-versa.
Chris Anderson has a similar talk, although his theme is Crowd Accelerated Innovation. Also worth your time if you find this topic compelling.