In a sign of the times, many popular television shows reportedly are now being shot twice. One set of shots is devoted to the television format we’re all familiar with and another set of shots is optimized for mobile devices. That’s just one example of how technology is adapting to consumer demand. The television and multiplex were once the kings of content delivery, but consumers are increasingly getting their media diet from new methods of delivery including mobile devices, PCs and tablet computers.

With broadband penetration rates steadily rising in the US, more television shows, music and movies are being delivered on-demand through Internet services such as Apple’s (NSDQ: AAPL) iTunes or Apple TV. DVD rental firm Netflix (NSDQ: NFLX) now streams more movies and television shows online than it sends to customers through the mail. Google (NSDQ: GOOG) has recently joined the fray with its Google TV offering, which provides web, music and television content through a specially equipped television set or a separate device. Sony (NYSE: SNE) now offers an Internet TV service that includes gaming capability. Even “stodgy” online vendor Amazon.com (NSDQ: AMZN) has emerged as a major player in online entertainment content delivery.

Not all consumers are thrilled with so-called “new media.” But investors can’t afford to ignore this momentous shift in media habits.

Although a number of Internet-focused exchange-traded funds (ETF) offer exposure to the movers and shakers of the digital world, our recommendation provides the best play on the proliferation of online content and e-commerce.

PowerShares NASDAQ Internet Portfolio (NSDQ: PNQI) holds shares of e-commerce standbys such eBay (NSDQ: EBAY) and Amazon.com that should reap the rewards of a surge in online shopping during the holiday season. Internet search providers such as Google (NSDQ: GOOG) and Internet infrastructure names also round out the ETF’s holdings. This fund offers exposure to a broad range of Internet-related industries at a relatively low cost; the ETF’s  expense ratio is 0.60 percent,

One caveat: Although the fund has many advantages, it trades in fairly low volumes, averaging about 20,000 shares per day. Nonetheless, PowerShares NASDAQ Internet Portfolio is a solid long-term holding that will supplement your portfolio’s technology exposure.

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