Report: Web Video to Top $6B by 201319 Aug, 2008 By: Erik Gruenwedel
With the gap between the Internet and transmitting entertainment to the television narrowing, a new report said consumers in the United States will spend $6 billion for Web-based video services by 2013.
The report from Parks Associates said that increased availability of connected video game consoles, networked TVs and video-on-demand (VOD) set-top boxes will spearhead the growth in user-generated revenue.
“Consumption of premium Internet video content to date has been low,” said Kurt Scherf, VP, principal analyst of Parks Associates. “Services have been available only on less-than-optimal screens, [including] PCs and portable multimedia players.”
The analyst said advances in ad-supported movie streams, targeted advertising, download-to-burn kiosks and on-demand venues will spur the Internet video market.
“New connected products that link to premium Internet video services are emerging at a rapid pace, moving the Web video viewing experience into the living room,” Scherf said. “This shift will help grow revenue considerably.”