Online video revenues are set to triple this year, according to a report by Futuresource Consulting.
Consumption of legitimate free and paid for online video is on track to exceed 770 billion views across the US, UK, France and Germany this year, according to the report, with pay revenues set to exceed US$3 billion (€2.2 billion). The majority of the pay revenues currently comes from the US, thanks to the success of Netflix. Futuresource predicts that pay revenues will grow to US$7 billion across the four countries studied by 2015.
Ad-funded revenues are expected to grow by 50% in 2011, according to the company, with advertisers continuing to “develop and refine content specifically for the online environment, rather than repurposing content originally destined for television”, it said.