Streaming media market to grow 135% in 5 years

0 reports it is estimated that the streaming media business segment will generate more than $78 billion in revenue in the US over the next six years. Insight Research recently released the results of an industry study which states that streaming media will be a major source of revenue through 2014. They classified streaming media as the transmission of digital audio and video files over an IP network or wireless network in real time or on-demand, while prohibiting users from storing the files locally.

For the next five years they predict that revenue from streaming media will grow at a rate of 27% per year thanks to more and more people turning to online audio and video. That means over 135% growth through 2014.

Robert Rosenberg, Insight Research president said that the growth is coming as traditional television advertising dollars are shunted into online ads: “Over the past seven years as we’ve tracked the developments in streaming it has evolved from an esoteric niche to a mainstream market. What we predicted way back when is coming to fruition. The advertising revenue that long supported traditional TV is gravitating to this new medium, putting downward pressure on traditional TV distribution schemes.”