Report: Video, Music Streaming to Top $70B in 6 Years26 Mar, 2008 By: Chris Tribbey
Video and music streaming will be a $70 billion industry in the United States over the next six years, according to a study by The Insight Research Corporation.
The new study looks at video and music that can be accessed on the Internet, Web-enabled TV or mobile devices, and content that can only be streamed, not stored.
Current content that is streamed will grow by nearly 30% in the next six years, the study says, with advertising revenue contributing to a majority of the profits.
“The outlook for streaming media has never been brighter. Questions surrounding consumers' willingness to pay for content have been dispelled by satellite radio and iTunes,” said Insight Research president Robert Rosenberg. “The forecasts that we present are conservative and in line with current performance. If, however, per-stream costs drop faster than anticipated, we have quicker acceptance of IPTV, or improvements in 3G delivery take place faster than expected, it could blow the doors off of our forecasts, propelling this industry into explosive growth.”
For more information visit www.insight-corp.com.