The market for internet video services, particularly those that stream directly to the television, could be set for a major boom.
Analysts at research firm Parks Associates predict that over the next five years the market for internet video services could balloon to $6bn in the United States alone.
The company predicts that the vast majority of that money will go to services that stream directly to television sets, mainly through such services as networked TVs, game consoles and special set-top boxes.
"Consumption of premium internet video content to date has been low. Services have been available only on less-than-optimal screens – PCs and portable multimedia players," explained Kurt Scherf, vice president and principal analyst for Parks Associates. "But new connected products that link to premium internet video services are emerging at a rapid pace, moving the internet video viewing experience into the living room. This shift will help grow revenues considerably."
Currently, the firm estimates the market for internet video to be at around $1bn. As the services become more popular, however, that market is expected to expand to more than $6bn, with TV-based video services bringing in some $5bn.
Much of that money, said the company, will come from growth in ad-supported movies, targeted advertising campaigns and new online video services from the various major film studios.
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