Study: iTunes created online video ‘Big Bang’

ABI Research said today that Apple’s announcement last year that it would sell videos on the iTunes Music Store triggered the online video “big bang.” The firm also said it believes that the premium online video market will grow 89 percent annually through 2010.

“While the push to online video had started well before the launch of the video iPod, the online video ‘big bang’ started with Apple’s announcement and continued through the Consumer Electronics Show,” ABI said. “At this year’s CES, gadgets took a backseat to the bevy of announcements by large online and content players. The flood of online content announcements from Google, Yahoo and others shows that after years of hesitation from the larger media players, the market for premium content online is finally beginning to take shape.”

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