User-Generated Web Content expected to grow rapidly

A high-tech market research stated that User Generated Content is expected to grow significantly in popularity and revenues over the next several years.

By 2010, the revenues tied to User Generated Content video are estimated to exceed $850 million by 2010 and the volume of downloads/views on these sites will surpass 65 billion.

“Democratization of media affords users the opportunity to express their opinions, rate content, and vote for their favorite videos,” says Michael Inouye, In-Stat analyst. “In addition, what may currently seem like ‘the Wild West’ is actually an industry that has started to see idiosyncratic ‘judiciary bodies’ and ‘rules of law’ imposed by each player within this market.”