Online Video Viewers to Hit 1.3 Billion in 2016

According to a new report by ABI Research, the number of online video viewers worldwide is expected to eclipse 1.3 billion by 2016, growing from a current 2010 base of just over 780 million. As more consumers look to their broadband connections for content, the over-the-top (OTT) video industry will likewise grow with many companies such as Netflix, Hulu and Apple's iTunes division aiming to capitalize on this market trend. Netflix is the current leader in OTT revenues. iTunes and Hulu each represent about 15% of the current OTT market.