Streaming media to generate $70 billion in 6 years

$70 billion in revenue – that’s a lot of dough! And it just goes to show how media consumer habits are changing. Because, according to an Insight Research report, those $70 billion will be generated bystreaming video and music over the next six years.

A story in Information Week points out that content streamed over the Internet, IPTV networks, and mobile handsets will increase revenue through content and networks. The Insight study indicates that on-demand audio and video, as well as the revenue they generate, will boost the market, growing at a compounded annual rate of almost 29% through 2013.

And if there are any doubts about people paying for these services, Robert Rosenberg, Insight Research president, makes an excellent observation: “Questions surrounding consumers’ willingness to pay for content have been dispelled by satellite radio and iTunes.”