It's the old 'bread and circuses' concept. But at some point the people being manipulated catch on to the fact, and then revolution is likely. I keep wondering why we haven't had one already - perhaps people are now so brainwashed that they will never wake up?
I think we've perfected the circuses part. Between the hundreds of TV channels, cellphones, and Internet, the circuses are essentially perpetual. When you get bored with one, you'll find a nearly endless supply available at the touch of a button. You have no time for a revolution if you're busy searching for the next cat video on Youtube.