Simultaneous Release: Can Movie Studios Offer Films Across Distribution Channels at the Same Time Without Cannibalizing Audiences?

With DVD sales sliding and digital distribution becoming more popular, film studios are increasingly experimenting with their movies’ release windows across each distribution channel, perhaps eventually moving toward a universal day-and-date release strategy. How will a simultaneous release window likely affect existing consumer audiences for each distribution outlet?
How have the exclusive release windows for feature films been eroding over time?
How will consumers likely be affected by the ultimate in release window collapse: the simultaneous release of a title across all distribution channels?
How can studios and other content owners take advantage of a simultaneous release for maximum profitability without cannibalizing existing audiences of any one distribution channel?