Report: User-Generated Video Growing Exponentially13 May, 2008 By: Erik Gruenwedel
Citing significant appeal in China, global revenues from for user-generated video (UGV) are expected to top $1.1 billion by 2012, according to a new In-Stat report.
More than 160 billion user-generated videos are forecasted for 2012.
The data meshed with separate data from comScore that found UGV behemoth YouTube in March dominated the U.S. online video market with 38% market penetration as nearly 85 million viewers watched 4.3 billion videos (50.4 videos per viewer).
In-Stat reported that despite government restrictions on Internet use and content, China ranked second to the United States in demand for UGV.
The Scottsdale, Ariz.-based research firm mentioned several factors for global UGV growth, including increased availability of high-definition video, file size capacity, broadband penetration and an age-group penchant (especially in Asia) for utilizing the cell phone as an entertainment device.