By Gemma Simpson, 29 January 2007 11:55
NEWS
Online television and film download revenues will grow tenfold globally to $6.3bn in 2012, with the UK in second place behind the US.
Revenue from online TV and video in the UK is predicted to increase from $42m in 2006 to $708m in 2012, according to Informa research.
The US will be the largest revenue-generating region, driving up to $4bn in revenue by 2012, which will account for a 65 per cent share of total projected global revenue, according to the Online TV and Video: Beyond User-Generated Content report.
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Adam Thomas, media research manager at Informa, said the challenge for the TV industry is to monetise the massive interest in online content. Traditional media companies are being forced to change their behaviour to adapt to consumers' online demand, he said.
The Informa report found content companies that are co-operating with leading online TV and video services, such as YouTube and Google Video, are best-placed to avoid the internet's "potentially harmful effects".
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