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The tech world is going full speed ahead into video. Apple is negotiating with TV providers for a service that would compete with cable TV, and is reportedly considering making its own content. Comcast has an internet-based streaming video service in the works. Google is trying to figure out how to launch a paid version of YouTube. That's not to mention existing video players like Amazon and Netflix.
Why all the action? Because video is expected to be a huge opportunity, according to this chart from Statista. Revenue from online video is slated to grow from about $7.5 billion last year to $8.7 billion this year, and nearly $14 billion by 2020. In contrast, the online music market is going to grow a lot more slowly.
Statista