Online TV and video will generate global revenues of $6.3bn (£3.2bn) by 2012, according to Informa’s report Online TV and Video: Beyond User-Generated Content.
The report found that revenues will increase by ten times in the next five years.
UK revenues will leap from $42m (£21.5m) in 2006 to $364m (£186m) in 2009 and $708m (£361.7m) in 2012, predicted Informa. The report forecast that the UK will remain the second largest market for online TV and video, behind the US which will have a market worth $3.9bn (£2bn) by 2012.
Broadcast companies will have to be aware of the internet impacting on their core businesses, the report concluded. It found that those involved in deals with online TV and video providers like iTunes Video and YouTube stand the best chance of success.