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News brief: Online video will be worth €1b by year-end

Revenues from online video in Western Europe will total €1 billion (US$1.3 billion) this year, according to new research.

ITMedia Consulting says revenues from online video distributed to connected devices will grow rapidly in the region, reaching €3 billion in 2016.

The bulk of the 2013 total will come from advertising, ITMedia says.

It forecasts that €652 million will be from ads and the remaining €412 million from subscription services.

The most influential screens for video consumption will be TV, PC, tablet and smartphone, the researchers said.