Online Video to Generate Big Bucks
Informa Telecoms & Media forecasts that by 2013, US online TV and video services will generate revenues of $7.9 billion. In 2007, the market was already worth over $1 billion and by 2008, that figure will leap to $4.7 billion.
Though these figures include a la carte and subscription-based download fees, advertising revenue is expected to account for the largest slice at 63% of the 2013 global total.
"The Writers Guild strike brought much of Hollywood to a standstill for several months. The fact that revenues derived from online TV and video were at the heart of the dispute indicate just how important this sector has become," said Adam Thomas, media research manager at Informa.
The UK and Japan are the second and third largest markets, respectively, in terms of online TV and video revenues. In 2008, revenues are expected to reach $842 million in the UK and $605 million in Japan. [eMarketer]
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