Internet video set for boom

13:59 14th August 2008

The market for internet video services is set for a major boom, according to an industry analyst firm.

Research firm Parks Associates predicts that over the next five years, the demand for directly streamed online television could see revenue from internet video services increase to £3 billion.

Currently the firm estimates that the market is at around £500 million, however with the popularity of the applications set to increase, TV-based video is expected to bring in £2.5 billion alone.

"Consumption of premium Internet video content to date has been low," explained Kurt Scherf, 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," he asserted.

Last month, a group of MPs recommended that user generated video content should adopt watershed viewing hours and a cinema style rating system.

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