Someday (probably when we have holosuites), there will be a story/game hybrid where characters can choose to observe the main story, or wander off and interact with other parts of the environment, which have some slight chance of impacting the events of the main story in a way that won't upset the story.
Some people can ignore the main story (gamers) and others can ignore everything but the main story (audience). People can go back and forth between these two modes as well, and control the pace at which they observe the story so they don't need to worry about missing anything.
But there will always be a main story that cannot be dependent on the actions of people who aren't chiefly focused on making a good story, with an understanding of what a good story is, in the first place. Expecting gamers to collaboratively create a good story when their goal in the game is going to be building their character's abilities, winning, stuff like that, is like expecting a mudfight to spontaneously result in a sculpture that looks like Rodin's Thinker
My bet is that most of the TV audience will be unaware that the game is occurring at all. Maybe there will be ads to make the audience aware that it exists, but it won't really matter to enjoying the show. To really be integrated, the show and game need to be happening on the same device.