The wealth of online TV content will generate up to $10 billion in online ad revenue by 2011, according to the Internet TV report from Understanding & Solutions/Boston released last week.
“There is an Internet TV gold rush in progress as mainstream broadcasters and cable networks move their content online alongside a new raft of webcasters, like Joost, Vudu and Babelgum,” the report said.
“Globally, we estimate there are more than 20 billion videos being streamed every month. In the U.S., active users are streaming an average of 55 videos per month,” said John Bird, principal consultant of U&S.
“Internet TV will challenge the traditional broadcast industry through rights distribution, on-demand content versus linear broadcast and the generation of advertising revenues,” said Alison Casey, U&S business director. “The competitive structure of the market will be under threat as new webcasters compete with conventional broadcast channels for audiences and advertiser money. The national boundaries that govern broadcasting today will also be challenged by the global nature of the Internet.”
The study says that online TV ad revenue will jump from $400 million in 2006 to $10 billion in 2011.
Supreme Court Allows Multibillion-Dollar Class Action Lawsuit To Proceed Against Meta
The Supreme Court is allowing a multibillion-dollar class action investors' lawsuit to proceed against Facebook parent Meta, stemming from the privacy scandal involving the Cambridge Analytica political consulting firm.
The justices heard arguments in November in Meta's bid to shut down the lawsuit. On Friday, they decided that they were wrong to take up the case in the first place.
The high court dismissed the company's appeal, leaving in place an appellate ruling allowing the case to go forward.
Investors allege that Meta did not fully disclose the risks that Facebook users' personal information would be misused by Cambridge Analytica, a firm that supported Donald Trump 's first successful Republican presidential campaign in 2016.
Inadequacy of the disclosures led to two significant price drops in the price of the company's shares in 2018, after the public learned about the extent of the privacy scandal, the investors say.
Meta spokesman Andy Stone said the company was disappointed by the court's action. "The plaintiff's claims are baseless and we will continue to defend ourselves as this case is considered by the District Court," Stone said in an emailed statement.
Meta already has paid a $5.1 billion fine and reached a $725 million privacy settlement with users.
Cambridge Analytica had ties to Trump political strategist Steve Bannon. It had paid a Facebook app developer for access to the personal information of about 87 million Facebook users. That data was then used to target U.S. voters during the 2016 campaign.
The lawsuit is one of two high court cases involving class-action lawsuits against tech companies. The justices also are wrestling with whether to shut down a class action against Nvidia.... Read More